Our pivot point stands at 1.0836.
Our preference: the upside prevails as long as 1.0836 is support.
Alternative scenario: the downside breakout of 1.0836 would call for 1.0804 and 1.0785.
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 above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0807 and 1.0785).
Supports and resistances:
1.0988 **
1.0969 *
1.0950 **
1.0931
1.0873 last
1.0848
1.0836 **
1.0804 *
1.0785 **
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 20:58 UTC+1
Price reference: 1.0873 last known on 03-22-2023 at 20:58 UTC+1
Investment horizon: INTRADAY