Our pivot point is at 1.2471.
Our preference: as long as 1.2471 is support look for 1.2606.
Alternative scenario: the downside breakout of 1.2471 would call for 1.2433 and 1.2410.
Comment: the RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (1.2513) but above its 50 period moving average (1.2492).
Supports and resistances:
1.2652 **
1.2629 *
1.2606 **
1.2583
1.2507 last
1.2486
1.2471 **
1.2433 *
1.2410 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 02-05-2025 at 16:31 UTC+1
Price reference: 1.2507 last known on 02-05-2025 at 16:31 UTC+1
Investment horizon: INTRADAY
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