Our pivot point is at 1.2447.
Our preference: as long as 1.2447 is support look for 1.2555.
Alternative scenario: below 1.2447, expect 1.2407 and 1.2384.
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 below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.2455 and 1.2410).
Supports and resistances:
1.2602 **
1.2578 *
1.2555 **
1.2532
1.2484 last
1.2462
1.2447 **
1.2407 *
1.2384 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
TRADING CENTRAL is governed by the Code of Conduct of ANACOFI-CIF, an association approved by the Autorité des Marchés Financiers and registered with ORIAS under number 17005458.
Written on 01-24-2025 at 21:26 UTC+1
Price reference: 1.2484 last known on 01-24-2025 at 21:26 UTC+1
Investment horizon: INTRADAY
TRADING CENTRAL recommends reading the legal and regulatory information as well as the warnings concerning the information provided accessible from the following link : https://global.tradingcentral.com/www/pdf/terms_of_use_web_sites_en.pdf