Our pivot point is at 164.77.
Our preference: the upside prevails as long as 164.77 is support.
Alternative scenario: the downside breakout of 164.77 would call for 163.98 and 163.51.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 164.54 and 164.17).
Supports and resistances:
167.89 **
167.42 *
166.95 **
166.48
165.42 last
165.08
164.77 **
163.98 *
163.51 **
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 02-28-2023 at 12:14 UTC+1
Price reference: 165.42 last known on 02-28-2023 at 12:14 UTC+1
Investment horizon: INTRADAY