0.8823 is our pivot point.
Our preference: the upside prevails as long as 0.8823 is support.
Alternative scenario: the downside breakout of 0.8823 would call for 0.8802 and 0.8789.
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 above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8831 and 0.8824).
Supports and resistances:
0.8908 **
0.8895 *
0.8882 **
0.8870
0.8842 last
0.8832
0.8823 **
0.8802 *
0.8789 **
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 12:18 UTC+1
Price reference: 0.8842 last known on 04-14-2023 at 12:18 UTC+1
Investment horizon: INTRADAY