Our pivot point is at 1.6371.
Our preference: The downside prevails as long as 1.6371 is resistance, with 1.6307 and 1.6293 as targets
Alternative scenario: above 1.6371, look for 1.6395 and 1.6409.
Comment: the RSI is below 30. It could either mean that the price 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 price stands below its 20 and 50 period moving average (respectively at 1.6366 and 1.6396).
Supports and resistances:
1.6409 **
1.6395 *
1.6371 **
1.6345 last
1.6307
1.6293 **
1.6279 *
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 08-21-2026 at 13:20 UTC+1
Price reference: 1.6345 last known on 08-21-2026 at 13:20 UTC+1
Investment horizon: INTRADAY
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