As of now, the dollar rally has been broken and the winning streak paused after reaching a one-year high. Data released yesterday in the US on the housing market was worse than expected and helped the pair overcome the level of 1.3115 and entrenched under it.
The dollar index shows that a further weakening of the reserve currency is possible, since the index approached the 94.00 mark and in case of overcoming this mark, the sale may begin and our pair will rush after the index.
Technical indicators point to a sell signal and we expect that the next mark to which the price will go will be the level of 1.2960, which is offered to set take profits. Therefore, we recommend looking for points to enter short positions on earlier charts.
