0.5954 is our pivot point.
Our preference: as long as 0.5954 is support look for 0.6061.
Alternative scenario: the downside breakout of 0.5954 would call for 0.5914 and 0.5890.
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 below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.5972 and 0.5938).
Supports and resistances:
0.6110 **
0.6086 *
0.6061 **
0.6037
0.5988 last
0.5970
0.5954 **
0.5914 *
0.5890 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 05-23-2025 at 22:35 UTC+1
Price reference: 0.5988 last known on 05-23-2025 at 22:35 UTC+1
Investment horizon: INTRADAY
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