Yesterday we saw that the released data introduced a lot of uncertainty on this currency pair. Investors completely did not know how to interpret them and after the initial breakout, the price returned to its main trend. Today there is also a lot of macro data that will have a greater or lesser impact on the price. There is no single direction that I can point to as the data forecasts are slightly different from previous readings. This means that the market is at a constant macroeconomic level, and countries are equally implementing the plan in this phase of the pandemic.
I’ve marked two levels in the painting. The first is a break that already took place yesterday but was not maintained. Breakouts when reading the macro data should be taken into account with a correction, because at that time the market is not behaving naturally. The second level is the resistance that could be the key to reversing this slow downtrend.