Our pivot point is at 0.6085.
Our preference: rebound towards 0.6155.
Alternative scenario: the downside breakout of 0.6085 would call for 0.6059 and 0.6043.
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 negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6129 and 0.6172).
Supports and resistances:
0.6186 **
0.6171 *
0.6155 **
0.6139
0.6106 last
0.6096
0.6085 **
0.6059 *
0.6043 **
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: 0.6106 last known on 03-08-2023 at 00:10 UTC+1
Investment horizon: INTRADAY