Our pivot point stands at 1.0274.
Our preference: the upside prevails as long as 1.0274 is support.
Alternative scenario: the downside breakout of 1.0274 would call for 1.0246 and 1.0229.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0276 and 1.0259).
Supports and resistances:
1.0392 **
1.0375 *
1.0358 **
1.0341
1.0306 last
1.0285
1.0274 **
1.0246 *
1.0229 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-14-2025 at 21:33 UTC+1
Price reference: 1.0306 last known on 01-14-2025 at 21:33 UTC+1
Investment horizon: INTRADAY
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