Our pivot point is at 1.3207.
Our preference: the downside prevails as long as 1.3207 is resistance.
Alternative scenario: the upside breakout of 1.3207, would call for 1.3240 and 1.3259.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.3206 and 1.3232).
Supports and resistances:
1.3259 **
1.3240 *
1.3207 **
1.3195
1.3175 last
1.3133
1.3114 **
1.3094 *
1.3075 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 08-28-2024 at 20:03 UTC+1
Price reference: 1.3175 last known on 08-28-2024 at 20:03 UTC+1
Investment horizon: INTRADAY
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