Our pivot point stands at 1.3234.
Our preference: the upside prevails as long as 1.3234 is support.
Alternative scenario: below 1.3234, expect 1.3202 and 1.3182.
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 positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.3236 and 1.3212).
Supports and resistances:
1.3364 **
1.3344 *
1.3325 **
1.3305
1.3263 last
1.3247
1.3234 **
1.3202 *
1.3182 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 08-27-2024 at 22:21 UTC+1
Price reference: 1.3263 last known on 08-27-2024 at 22:21 UTC+1
Investment horizon: INTRADAY
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