Our pivot point is at 1.3316.
Our preference: the downside prevails as long as 1.3316 is resistance.
Alternative scenario: the upside breakout of 1.3316, would call for 1.3344 and 1.3360.
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 below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.3325 and 1.3349).
Supports and resistances:
1.3360 **
1.3344 *
1.3316 **
1.3306
1.3291 last
1.3242
1.3226 **
1.3210 *
1.3193 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 03-22-2023 at 21:05 UTC+1
Price reference: 1.3291 last known on 03-22-2023 at 21:05 UTC+1
Investment horizon: INTRADAY