Our pivot point is at 0.6182.
Our preference: rebound towards 0.6259.
Alternative scenario: the downside breakout of 0.6182 would call for 0.6153 and 0.6136.
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 above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.6212 and 0.6265).
Supports and resistances:
0.6294 **
0.6276 *
0.6259 **
0.6242
0.6205 last
0.6194
0.6182 **
0.6153 *
0.6136 **
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 04-17-2023 at 01:05 UTC+1
Price reference: 0.6205 last known on 04-17-2023 at 01:05 UTC+1
Investment horizon: INTRADAY