Our pivot point stands at 1.6564.
Our preference:
the upside prevails as long as 1.6564 is support.
Alternative scenario:
the downside breakout of 1.6564 would call for 1.6515 and 1.6486.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6582 and 1.6534).
Our preference:
the upside prevails as long as 1.6564 is support.
Alternative scenario:
the downside breakout of 1.6564 would call for 1.6515 and 1.6486.
Comment:
the RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6582 and 1.6534).