1.2563 is our pivot point.
Our preference: the upside prevails as long as 1.2563 is support.
Alternative scenario: the downside breakout of 1.2563 would call for 1.2530 and 1.2511.
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 above its 20 and 50 period moving average (respectively at 1.2544 and 1.2516).
Supports and resistances:
1.2698 **
1.2678 *
1.2659 **
1.2640
1.2599 last
1.2575
1.2563 **
1.2530 *
1.2511 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 12-20-2024 at 19:56 UTC+1
Price reference: 1.2599 last known on 12-20-2024 at 19:56 UTC+1
Investment horizon: INTRADAY
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