1.3235 is our pivot point.
Our preference: the downside prevails as long as 1.3235 is resistance.
Alternative scenario: above 1.3235, look for 1.3261 and 1.3277.
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 stands below its 20 and 50 period moving average (respectively at 1.3232 and 1.3256).
Supports and resistances:
1.3277 **
1.3261 *
1.3235 **
1.3224
1.3211 last
1.3179
1.3163 **
1.3147 *
1.3132 **
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 04-13-2023 at 19:58 UTC+1
Price reference: 1.3211 last known on 04-13-2023 at 19:58 UTC+1
Investment horizon: INTRADAY