Our pivot point is at 1.0281.
Our preference: the downside prevails as long as 1.0281 is resistance.
Alternative scenario: the upside breakout of 1.0281, would call for 1.0309 and 1.0326.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (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 1.0297 and 1.0334).
Supports and resistances:
1.0326 **
1.0309 *
1.0281 **
1.0270
1.0254 last
1.0221
1.0204 **
1.0187 *
1.0171 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-02-2025 at 20:11 UTC+1
Price reference: 1.0254 last known on 01-02-2025 at 20:11 UTC+1
Investment horizon: INTRADAY
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