Our pivot point is at 103.63.
Our preference: rebound towards 104.92.
Alternative scenario: the downside breakout of 103.63 would call for 103.16 and 102.89.
Comment: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 104.22 and 104.60).
Supports and resistances:
105.47 **
105.19 *
104.92 **
104.64
104.03 last
103.81
103.63 **
103.16 *
102.89 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 05-30-2025 at 06:25 UTC+1
Price reference: 104.03 last known on 05-30-2025 at 06:25 UTC+1
Investment horizon: INTRADAY
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