Our pivot point stands at 0.8473.
Our preference: the upside prevails as long as 0.8473 is support.
Alternative scenario: below 0.8473, expect 0.8440 and 0.8419.
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 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 0.8468 and 0.8432).
Supports and resistances:
0.8611 **
0.8591 *
0.8571 **
0.8551
0.8509 last
0.8486
0.8473 **
0.8440 *
0.8419 **
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 11:47 UTC+1
Price reference: 0.8509 last known on 03-01-2023 at 11:47 UTC+1
Investment horizon: INTRADAY