Our pivot point stands at 1.0526.
Our preference: the downside prevails as long as 1.0526 is resistance.
Alternative scenario: the upside breakout of 1.0526, would call for 1.0556 and 1.0573.
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 1.0533 and 1.0548).
Supports and resistances:
1.0573 **
1.0556 *
1.0526 **
1.0515
1.0502 last
1.0467
1.0449 **
1.0431 *
1.0414 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-10-2024 at 16:38 UTC+1
Price reference: 1.0502 last known on 12-10-2024 at 16:38 UTC+1
Investment horizon: INTRADAY
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