Our pivot point stands at 70.54.
Our preference:
the upside prevails as long as 70.54 is supported.
Alternative scenario:
the downside breakout of 70.54 would call for 70.28 and 70.13.
Comment:
the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 70.71 and 70.68).
Our preference:
the upside prevails as long as 70.54 is supported.
Alternative scenario:
the downside breakout of 70.54 would call for 70.28 and 70.13.
Comment:
the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 70.71 and 70.68).
