Our pivot point is at 163.65.
Our preference: the downside prevails as long as 163.65 is resistance.
Alternative scenario: above 163.65, look for 164.12 and 164.40.
Comment: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 163.60 and 163.75).
Supports and resistances:
164.40 **
164.12 *
163.65 **
163.46
163.19 last
162.60
162.32 **
162.04 *
161.76 **
Head of Research at TRADING CENTRAL: Rémy GAUSSENS
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Written on 05-30-2025 at 06:27 UTC+1
Price reference: 163.19 last known on 05-30-2025 at 06:27 UTC+1
Investment horizon: INTRADAY
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