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EUR/USD intraday: as long as 1.0837 is support look for 1.0878

2024-05-24
526

Our pivot point stands at 1.0837.

Our preference: as long as 1.0837 is support look for 1.0878.

Alternative scenario: the downside breakout of 1.0837 would call for 1.0822 and 1.0813.

Comment: the RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 1.0842 and 1.0824).

Supports and resistances:

1.0896 **

1.0887 *

1.0878 **

1.0869

1.0851 last

1.0843

1.0837 **

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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