Our view: The market is focusing is 64.6; 63.2 - target point.
Alternative scenario: The upside breakout 64.6 confirms the growth to 64.7 and 64.9.
Note: RSI below 50. MACD is positive and below its signal line. MACD must penetrate down the zero line to corroborate the continued fall. In addition, the course is below its 20-day moving average (64.5188) but above its 50-day moving average (63.3303).
Support and resistance levels: 64.9 ** 64.7 * 64.3 ** 64.1 63.9182 (closing price) 63.4 63.2 ** 62.9 * 62.7 ** Join my private group for free signals, analysis and training. Msg. for details.
Comments
IvanLabrie
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USDCNH is giving interesting signals as well. End of the month, money managers might cut some positions and give us some reaction trades.