Our pivot point is at 1.2763.
Our preference: the downside prevails as long as 1.2763 is resistance
Alternative scenario: above 1.2763, look for 1.2804 and 1.2829.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.2834 and 1.2873).
Supports and resistances:
1.2829 **
1.2804 *
1.2763 **
1.2746
1.2724 last
1.2665
1.2640 **
1.2616 *
1.2591 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 04-07-2025 at 18:54 UTC+1
Price reference: 1.2724 last known on 04-07-2025 at 18:54 UTC+1
Investment horizon: INTRADAY
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