Our pivot point is at 0.9020.
Our preference: look for a drop towards 0.9020 before a bounce.
Alternative scenario: the downside breakout of 0.9020 would call for 0.8990 and 0.8970.
Comment: the RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is below its 20 period moving average (0.9073) but above its 50 period moving average (0.9069).
Supports and resistances:
0.9160 **
0.9140 *
0.9130 **
0.9110
0.9071 last
0.9030
0.9020 **
0.8990 *
0.8970 **
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 11:27 UTC+1
Price reference: 0.9071 last known on 02-28-2023 at 11:27 UTC+1
Investment horizon: INTRADAY