Our pivot point is at 0.9935.
Our preference: the upside prevails as long as 0.9935 is support.
Alternative scenario: below 0.9935, expect 0.9912 and 0.9899.
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 above its 20 and 50 period moving average (respectively at 0.9931 and 0.9930).
Supports and resistances:
1.0030 **
1.0016 *
1.0003 **
0.9989
0.9958 last
0.9944
0.9935 **
0.9912 *
0.9899 **
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 12:07 UTC+1
Price reference: 0.9958 last known on 02-28-2023 at 12:07 UTC+1
Investment horizon: INTRADAY