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EUR/USD intraday: below its lower Bollinger band

2024-04-05
240

Our pivot point stands at 1.0862.

Our preference: under pressure below 1.0862.

Alternative scenario: above 1.0862, look for 1.0876 and 1.0885.

Comment: the RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0860 and 1.0849). Finally, the EUR/USD is trading below its lower Bollinger band (standing at 1.0845).

Supports and resistances:

1.0885 **

1.0876 *

1.0862 **

1.0856

1.0839 last

1.0822

1.0813 **

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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