Our pivot point stands at 0.6393.
Our preference: under pressure below 0.6393.
Alternative scenario: the upside breakout of 0.6393, would call for 0.6596 and 0.6717.
Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6238 and 0.6246).
Supports and resistances:
0.6717 **
0.6596 *
0.6393 **
0.6313
0.6219 last
0.5966
0.5845 **
0.5725 *
0.5605 **
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 04-11-2023 at 10:43 UTC+1
Price reference: 0.6219 last known on 04-11-2023 at 10:43 UTC+1
Investment horizon: ST