If any factor leads to the undesirable monetary policy tightening, the price stability will substantially worsen. "The European Central Bank Governing Council will use all available tools", - says the ECB president Mario Draghi.
"Economic conditions" will likely justify the rate hike at some point this year," - said D. Yelllen, speaking in Congress.
Comparing the ECB and the Fed comments, we can come to the conclusion that the market still will have bullish sentiments towards the US dollar.
Bears brought the price closer to the first obstacle on the way downwards that is the level of 1.0925. The decrease continued started after breaking the mark of 1.0925.
The price is finding the first support at 1.0790, the next one is 1.0670. The price is finding the first resistance at 1.0925, the next one is at 1.1050.
There is a confirmed and a strong sell signal. The price is under the Cloud and it is under the Chinkou Span. The Tenkan-sen and the Kijun-sen show a downward movement. The downward movement will be until the price is under the Cloud.
The MACD indicator is in a negative territory. The price is decreasing.
The potential decrease targets are two levels of support: 1.0790 and 1.0670.