0.6191 is our pivot point.
Our preference: the upside prevails as long as 0.6191 is support.
Alternative scenario: the downside breakout of 0.6191 would call for 0.6162 and 0.6146.
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 above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.6204 and 0.6193).
Supports and resistances:
0.6305 **
0.6288 *
0.6272 **
0.6255
0.6221 last
0.6202
0.6191 **
0.6162 *
0.6146 **
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 03-22-2023 at 11:17 UTC+1
Price reference: 0.6221 last known on 03-22-2023 at 11:17 UTC+1
Investment horizon: INTRADAY