Our pivot point stands at 0.8832.
Our preference: the upside prevails as long as 0.8832 is support.
Alternative scenario: the downside breakout of 0.8832 would call for 0.8809 and 0.8795.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (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 0.8833 and 0.8813).
Supports and resistances:
0.8922 **
0.8908 *
0.8895 **
0.8881
0.8853 last
0.8841
0.8832 **
0.8809 *
0.8795 **
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 03-23-2023 at 00:08 UTC+1
Price reference: 0.8853 last known on 03-23-2023 at 00:08 UTC+1
Investment horizon: INTRADAY