Our pivot point stands at 1.0351.
Our preference: the upside prevails as long as 1.0351 is support.
Alternative scenario: the downside breakout of 1.0351 would call for 1.0322 and 1.0305.
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 1.0350 and 1.0326).
Supports and resistances:
1.0466 **
1.0449 *
1.0432 **
1.0414
1.0379 last
1.0363
1.0351 **
1.0322 *
1.0305 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-04-2025 at 19:16 UTC+1
Price reference: 1.0379 last known on 02-04-2025 at 19:16 UTC+1
Investment horizon: INTRADAY
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