Retail Sales data has been released in Switzerland and the US will publish PCE Core, Personal Spending and Employment Cost Index.
The support rests at 0.96890 with resistance at 0.97250 which the weekly pivot point at 0.97010 is located in between the lines. 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 on 50 level, the MACD line is below the signal line in the negative territory and the Stochastic is showing upward momentum. The ADX is not showing any clear signals. The price is below the Ichimoku Cloud and the Chinkou Span. The Tenkan-sen and the Kijun-sen are both showing a horizontal trend.
Long positions are recommended towards 0.97400.
