Trade Balance data is getting released in Switzerland and the US will publish Consumer Confidence and New Home Sales data.
The support rests at 0.96930 with resistance at 0.97200 which the weekly pivot point at 0.97040 is located in between the lines. The EMA of 10 is moving with bearish bias in the horizontal channel and it is located above the EMA of 200 and the EMA of 100. The RSI is falling below 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing downward momentum. The ADX is showing sell signal. The price is in the Ichimoku Cloud and below the Chinkou Span. The Tenkan-sen is showing a downward trend while the Kijun-sen is showing a horizontal trend.
Short positions are recommended towards 0.96800.
