Our pivot point is at 1.7012.
Our preference: rebound.
Alternative scenario: the downside breakout of 1.7012 would call for 1.6956 and 1.6922.
Comment: the RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (1.7051) but below its 50 period moving average (1.7062).
Supports and resistances:
1.7229 **
1.7195 *
1.7162 **
1.7128
1.7061 last
1.7035
1.7012 **
1.6956 *
1.6922 **
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 21:39 UTC+1
Price reference: 1.7061 last known on 03-01-2023 at 21:39 UTC+1
Investment horizon: INTRADAY