Our pivot point is at 1.3435.
Our preference: the downside prevails as long as 1.3435 is resistance.
Alternative scenario: above 1.3435, look for 1.3463 and 1.3480.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3453 and 1.3468).
Supports and resistances:
1.3480 **
1.3463 *
1.3435 **
1.3424
1.3406 last
1.3373
1.3356 **
1.3339 *
1.3322 **
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 03-01-2023 at 11:50 UTC+1
Price reference: 1.3406 last known on 03-01-2023 at 11:50 UTC+1
Investment horizon: INTRADAY