0.8898 is our pivot point.
Our preference:
rebound.
Alternative scenario:
the downside breakout of 0.8898 would call for 0.8877 and 0.8865.
Comment:
the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero levels to trigger further gains. Moreover, the pair stands above its 20 MA (0.8912) but below its 50 MA (0.8916).
Our preference:
rebound.
Alternative scenario:
the downside breakout of 0.8898 would call for 0.8877 and 0.8865.
Comment:
the RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero levels to trigger further gains. Moreover, the pair stands above its 20 MA (0.8912) but below its 50 MA (0.8916).