Our pivot point stands at 1.2536.
Our preference: target 1.2433.
Alternative scenario: the upside breakout of 1.2536, would call for 1.2575 and 1.2597.
Comment: the RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (1.2515) but above its 50 period moving average (1.2499).
Supports and resistances:
1.2597 **
1.2575 *
1.2536 **
1.2521
1.2503 last
1.2456
1.2433 **
1.2410 *
1.2387 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-05-2025 at 22:20 UTC+1
Price reference: 1.2503 last known on 02-05-2025 at 22:20 UTC+1
Investment horizon: INTRADAY
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