Switzerland will release KOF Economic Barometer and the US will publish Chicago Purchasing Managers Index and Crude Oil Inventories.
The support rests at 0.97720 with resistance at 0.97900 which both lines are below the weekly pivot point at 0.98140. 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 falling towards oversold area, 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 below the Ichimoku Cloud and above 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 0.97500.