74.22 is our pivot point.
Our preference:
the downside prevails as long as 74.22 is resistance.
Alternative scenario:
the upside breakout of 74.22, would call for 74.51 and 74.68.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 74.08 and 74.12).
Our preference:
the downside prevails as long as 74.22 is resistance.
Alternative scenario:
the upside breakout of 74.22, would call for 74.51 and 74.68.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 74.08 and 74.12).