EUR/USD intraday: the RSI is overbought
Our pivot point is at 1.0636.
Our preference: the upside prevails as long as 1.0636 is support.
Alternative scenario: below 1.0636, expect 1.0607 and 1.0589.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0619 and 1.0599). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0664).
Supports and resistances:
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