Our pivot point is at 91.00.
Our preference: the downside prevails as long as 91 is resistance.
Alternative scenario: above 91, look for 91.32 and 91.51.
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 below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91.18 and 91.37).
Supports and resistances:
91.51 **
91.32 *
91.00 **
90.87
90.72 last
90.29
90.10 **
89.91 *
89.71 **
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 03-07-2023 at 12:04 UTC+1
Price reference: 90.72 last known on 03-07-2023 at 12:04 UTC+1
Investment horizon: INTRADAY