The pair is trading above 0.7235. It’s under pressure due to slower growth of China’s production activities, which is clear from Friday’s PMI that sank below 50 points.
The price is above the middle Bollinger band, below SMA 5, but above SMA 14. RSI has stopped falling. Stoch are entering the oversold territory.
Trading recommendations:
If the US employment data is favorable, the price will drop to 0.7150.
