Japan released PMI Composite and Tertiary Industry Index. The US will release ISM Non-Manf. and Crude Oil Inventories.
The support rests at 106.960 with resistance at 107.800 which both lines are below the weekly pivot point at 109.080. The EMA of 10 is moving with bearish bias in the descendant channel and it is below the EMA of 200 and the EMA of 100. The RSI is moving in oversold area, the Stochastic is showing upward momentum and the MACD line is on the signal line in the neutral territory. The ADX is showing weak sell signal.
The support level seems to be too strong to be broken. Long positions are recommended towards the middle Bollinger band at 108.
