105.18 is our pivot point.


Our preference: the upside prevails as long as 105.18 is support.


Alternative scenario: the downside breakout of 105.18 would call for 104.83 and 104.63.


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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 104.84 and 104.48).


Supports and resistances:


106.57 **


106.36 *


106.16 **


105.95


105.54 last


105.31


105.18 **


104.83 *


104.63 **


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 20:00 UTC+1


Price reference: 105.5350 last known on 03-07-2023 at 20:00 UTC+1


Investment horizon: INTRADAY