Our pivot point stands at 1.7132.
Our preference: the upside prevails as long as 1.7132 is support.
Alternative scenario: the downside breakout of 1.7132 would call for 1.7075 and 1.7041.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.7144 and 1.7107).
Supports and resistances:
1.7361 **
1.7327 *
1.7293 **
1.7259
1.7187 last
1.7154
1.7132 **
1.7075 *
1.7041 **
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 03-06-2023 at 12:14 UTC+1
Price reference: 1.7187 last known on 03-06-2023 at 12:14 UTC+1
Investment horizon: INTRADAY