Our pivot point stands at 1.2300.
Our preference: the upside prevails as long as 1.2300 is support.
Alternative scenario: below 1.2300, expect 1.2261 and 1.2237.
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 trading above both its 20 and 50 period moving average (respectively at 1.2268 and 1.2221).
Supports and resistances:
1.2461 **
1.2438 *
1.2414 **
1.2391
1.2335 last
1.2315
1.2300 **
1.2261 *
1.2237 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 01-20-2025 at 21:25 UTC+1
Price reference: 1.2335 last known on 01-20-2025 at 21:25 UTC+1
Investment horizon: INTRADAY
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