Our pivot point stands at 74.14.
Our preference:
the downside prevails as long as 74.14 is resistance.
Alternative scenario:
the upside breakout of 74.14, would call for 74.42 and 74.60.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 74.19 and 74.01).
Our preference:
the downside prevails as long as 74.14 is resistance.
Alternative scenario:
the upside breakout of 74.14, would call for 74.42 and 74.60.
Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 74.19 and 74.01).
