EUR/USD Intraday: Technical rebound towards 1.1193 before a new drop
EUR/USD (EUR/USD)
+0.00093+0.08%
Even if a technical recovery cannot be ruled out, a drop towards 1.1137 remains likely as long as 1.1193 is resistance
Our pivot point is at 1.1193.
Our preference: Even if a technical recovery cannot be ruled out, a drop towards 1.1137 remains likely as long as 1.1193 is resistance
Alternative scenario: above 1.1193, look for 1.1213 and 1.1225.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price stands above its 20 period moving average (1.1161) but below its 50 period moving average (1.1176).
Supports and resistances:
1.1225 **
1.1213 *
1.1193 **
1.1175 last
1.1149
1.1137 **
1.1125 *
Our preference: Even if a technical recovery cannot be ruled out, a drop towards 1.1137 remains likely as long as 1.1193 is resistance
Alternative scenario: above 1.1193, look for 1.1213 and 1.1225.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price stands above its 20 period moving average (1.1161) but below its 50 period moving average (1.1176).
Supports and resistances:
1.1225 **
1.1213 *
1.1193 **
1.1175 last
1.1149
1.1137 **
1.1125 *
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