Our pivot point is at 1.9364.
Our preference: the downside prevails as long as 1.9364 is resistance.
Alternative scenario: the upside breakout of 1.9364, would call for 1.9441 and 1.9487.
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 negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.9375 and 1.9476).
Supports and resistances:
1.9487 **
1.9441 *
1.9364 **
1.9334
1.9288 last
1.9194
1.9149 **
1.9103 *
1.9057 **
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 11:39 UTC+1
Price reference: 1.9288 last known on 03-01-2023 at 11:39 UTC+1
Investment horizon: INTRADAY