Japan released the Monetary Policy Meeting Minutes and The US will publish New Home Sales, Richmond Manufacturing Index, CB Consumer Confidence, S&P/CS Composite-20 HPI y/y, and HPI m/m.
The support rests at 106.430 with resistance at 107.510 which both lines are below the weekly pivot point at 107.700. 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 moving in low ranges and the MACD line is below the signal line in the negative territory. The ADX is showing sell signal.
While indicators are showing downward pressure, the price has hit the lower Bollinger band already and there might be a possibility of correction trend. The support line seems to be too strong to be broken therefore sellers can target 106.430 and then buyers can return to the market.