Our pivot point is at 1.2724.
Our preference: as long as 1.2724 is support look for 1.2811.
Alternative scenario: the downside breakout of 1.2724 would call for 1.2691 and 1.2671.
Comment: the RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2746 and 1.2724).
Supports and resistances:
1.2850 **
1.2830 *
1.2811 **
1.2792
1.2750 last
1.2736
1.2724 **
1.2691 *
1.2671 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-05-2024 at 22:10 UTC+1
Price reference: 1.2750 last known on 12-05-2024 at 22:10 UTC+1
Investment horizon: INTRADAY
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