Our pivot point stands at 1.6179.
Our preference:
the downside prevails as long as 1.6179 is resistance.
Alternative scenario:
above 1.6179, look for 1.6226 and 1.6254.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 1.6160 and 1.6173).
Our preference:
the downside prevails as long as 1.6179 is resistance.
Alternative scenario:
above 1.6179, look for 1.6226 and 1.6254.
Comment:
the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 1.6160 and 1.6173).