Among Friday’s macro-economic news, which can affect movement in the pair, will the US producer price index (15:30 GMT 3). According to the preliminary forecast this index will drop by 0.3%, which can have a negative impact on the American currency.
On the four-hour chart Moving Average lines with the periods 20, 50 and 100 are horizontal. The pair is likely to continue trading in the sideways channel of 1.1286–1.1180.
Support levels are the local lows of 1.1223 and 1.1183. The nearest resistance level is the moving average line with the period of 20 (1.1286). Next resistance level will be 1.1386 (the highs of this month).
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