Our pivot point is at 132.07.
Our preference: the downside prevails as long as 132.07 is resistance.
Alternative scenario: above 132.07, look for 132.61 and 132.93.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 132.17 and 132.44).
Supports and resistances:
132.93 **
132.61 *
132.07 **
131.86
131.61 last
130.93
130.61 **
130.29 *
129.97 **
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 04-04-2023 at 21:57 UTC+1
Price reference: 131.61 last known on 04-04-2023 at 21:57 UTC+1
Investment horizon: INTRADAY