There are no major economic reports being published in Switzerland today but the US will release Housing Starts, Building Permits and Initial Jobless Claims.
The support rests at 1.00650 with resistance at 1.00940 which both lines are below the weekly pivot point at 1.01490. The EMA of 10 is moving with bearish bias in the descendant channel and it is located below the EMA of 200 and the EMA of 100. The RSI is moving below 50 level, the MACD line is above the signal line in the positive territory and the Stochastic is moving in high ranges. The ADX is showing sell signal. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Short positions are recommended towards 1.00500.
