Our pair has been in a corridor for several weeks already. Volatility in the pair is limited by the current boundaries of the corridor.
The morning data on building permits exceeded the forecasted figures and amounted to 6.4% instead of 1.1% in June. Today we expect the United States to release the consumer confidence index. The output of this index can increase volatility in the pair.
At the moment, quotes are in the range of 0.7475-0.7320, and the interim levels can be counted as 0.7450, 0.7365 and 0.7340.
Technical indicators demonstrate a divergence. The MACD and Stochastic indicators diverge. Therefore, we expect the intersection of the MA (21) and the MA (48) to confirm the sell signal. So far, we believe that the price will go to the upper border of the channel.
