0.6215 is our pivot point.
Our preference: the downside prevails as long as 0.6215 is resistance.
Alternative scenario: the upside breakout of 0.6215, would call for 0.6243 and 0.6260.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 0.6210 and 0.6232).
Supports and resistances:
0.6260 **
0.6243 *
0.6215 **
0.6204
0.6185 last
0.6150
0.6134 **
0.6117 *
0.6100 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 03-21-2023 at 11:17 UTC+1
Price reference: 0.6185 last known on 03-21-2023 at 11:17 UTC+1
Investment horizon: INTRADAY