The pair consolidates above the level of 106.70 due the release of new inflation data, the publication of the minutes of the Fed's September meeting on monetary policy, as well as the speech of J. Powell this week.
The price is below the middle Bollinger band indicator, above SMA 5, …
Analysis based on round-number levels, price channels and modified Elliot Waves
The overall trend of the currency pair is downward. The price is in the range of 365 and 135 moving averages. The breakout of the support level 1.2275 will result in the formation of an H1 level descending pattern …
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