Our pivot point stands at 1.7125.
Our preference: target 1.6963.
Alternative scenario: the upside breakout of 1.7125, would call for 1.7182 and 1.7216.
Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (1.7085) but above its 50 period moving average (1.7066).
Supports and resistances:
1.7216 **
1.7182 *
1.7125 **
1.7103
1.7075 last
1.6997
1.6963 **
1.6930 *
1.6896 **
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 03-02-2023 at 12:17 UTC+1
Price reference: 1.7075 last known on 03-02-2023 at 12:17 UTC+1
Investment horizon: INTRADAY