1.3311 is our pivot point.
Our preference: the downside prevails as long as 1.3311 is resistance.
Alternative scenario: above 1.3311, look for 1.3339 and 1.3355.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3303 and 1.3317).
Supports and resistances:
1.3355 **
1.3339 *
1.3311 **
1.3301
1.3285 last
1.3251
1.3235 **
1.3219 *
1.3203 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 03-28-2023 at 05:29 UTC+1
Price reference: 1.3285 last known on 03-28-2023 at 05:29 UTC+1
Investment horizon: INTRADAY