Yesterday the pair fell amid the publication of strong macroeconomic statistics in Switzerland, where the UBS Consumption Indicator grew from 1.40 to 1.47 points. In addition, the Dollar was pressured by weak data on the Markit Services PMI in the US. In May, the index fell from 52.8 to 51.2 points.
Today attention needs to be paid to data on Durable Goods Orders and Initial Jobless Claims in the US. Forecasts realisation could pressure the US Dollar .
Support and resistance
On the 4-hour chart, the price bounced off the middle MA of and formed a downward trend. histogram is in the positive zone and its volumes are falling. is falling, after it turned down near the overbought zone.
The indicators recommend short positions.
Support levels: 0.9896, 0.9886, 0.9879, 0.9871, 0.9862.
Resistance levels: 0.9906, 0.9910, 0.9915, 0.9921, 0.9924, 0.9929, 0.9934.
Short positions can be opened from current prices with the target at 0.9886 and stop-loss at 0.9910. Validity – 1-2 days.
Long positions can be opened from the level of 0.9910 with the target at 0.9934 and stop-loss at 0.9896. Validity – 1-2 days.