Our pivot point stands at 0.5083.
Our preference: as long as 0.5083 is support look for 0.5398.
Alternative scenario: the downside breakout of 0.5083 would call for 0.4961 and 0.4888.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The price could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5180 and 0.5104).
Supports and resistances:
0.5544 **
0.5471 *
0.5398 **
0.5325
0.5180 last
0.5132
0.5083 **
0.4961 *
0.4888 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 05-16-2024 at 07:01 UTC+1
Price reference: 0.5180 last known on 05-16-2024 at 07:01 UTC+1
Investment horizon: INTRADAY
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