Our pivot point stands at 69.95.
Our preference:
rebound towards 70.71.
Alternative scenario:
the downside breakout of 69.95 would call for 69.68 and 69.52.
Comment:
the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 70.25 and 70.40).
Our preference:
rebound towards 70.71.
Alternative scenario:
the downside breakout of 69.95 would call for 69.68 and 69.52.
Comment:
the RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 70.25 and 70.40).