The bearish trend continues.

With regard to the possible increase in the level of inflation in the US to 2.5%, the dollar went into a flat against major currencies. All of investors' attention this week will be focused on the speeches by Jerome Powell, which will be held on Tuesday and Thursday. The further movement of the reserve currency will depend on the comments regarding the future of monetary policy. If the rumors about an early increase in interest rates are confirmed the dollar may strengthen.

Furthermore, today we are waiting for the data on the trade balance, orders for durable goods, as well as on the consumer confidence index in the US.

Considering our chart and technical indicators, we observe a downward movement on the hourly, 4-hour and daily charts. The stochastic has left the overbought zone, the RSI is pointing down, and the ADX will soon cross and give a sell signal.

Given today's speeches and data output, it is necessary to enter the market cautiously during these events.

For now, we will assume a bearish trend and advance prices to the levels of 0.9255 and 0.9210. In case of a turn during the data output, our resistance level will be 0.9440.