The pair continues to consolidate in the range of 1.2170-1.2260 on the wave of expectations for the publication of important data on employment in the US, which will be published today by ADP, and on Friday by the US Department of Labor.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the 50% level and is declining. The Stoch are turned down.
Trading Idea:
The pair will consolidate today in the above range. Noticeable movements can occur if the data on the number of new jobs from ADP shows a noticeable difference from the forecasts. Strong ones will push the pair down, weak ones will push it up.