Our pivot point is at 143.51.
Our preference: the downside prevails as long as 143.51 is resistance.
Alternative scenario: the upside breakout of 143.51, would call for 144.22 and 144.64.
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 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 143.43 and 143.86).
Supports and resistances:
144.64 **
144.22 *
143.51 **
143.24
142.81 last
141.95
141.53 **
141.11 *
140.69 **
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 04-05-2023 at 19:47 UTC+1
Price reference: 142.81 last known on 04-05-2023 at 19:47 UTC+1
Investment horizon: INTRADAY