Our pivot point is at 1.3513.
Our preference: as long as 1.3513 is support look for 1.3599.
Alternative scenario: below 1.3513, expect 1.3483 and 1.3464.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3524 and 1.3481).
Supports and resistances:
1.3635 **
1.3617 *
1.3599 **
1.3580
1.3542 last
1.3525
1.3513 **
1.3483 *
1.3464 **
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 03-08-2023 at 00:10 UTC+1
Price reference: 1.3542 last known on 03-08-2023 at 00:10 UTC+1
Investment horizon: INTRADAY