Our pivot point is at 0.6281.
Our preference: as long as 0.6281 is support look for 0.6365.
Alternative scenario: below 0.6281, expect 0.6251 and 0.6233.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6302 and 0.6265).
Supports and resistances:
0.6400 **
0.6382 *
0.6365 **
0.6347
0.6311 last
0.6292
0.6281 **
0.6251 *
0.6233 **
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 04-14-2023 at 03:56 UTC+1
Price reference: 0.6311 last known on 04-14-2023 at 03:56 UTC+1
Investment horizon: INTRADAY