The pair remains under pressure amid the publication of strong data on the number of new jobs in the US from ADP. If the official values from the Ministry of Labor are already higher than the forecast, this will strengthen the local decline of the pair.
Technical side:
The price is located below the middle Bollinger band, below SMA 5 and SMA 14. RSI lies on the border of the oversold zone. Stoch are also located in this area.
Trading idea:
If the pair drops below 1.2100 following positive news for the US dollar, it will decline to 1.2050. Another scenario is possible if the data is worse than expected. In this case, the pair will recover to 1.2160.