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Our pivot point is at 110.57.
Our preference
The downside prevails as long as 110.57 is resistance.
Alternative scenario
Above 110.57, look for 111.02 and 111.28.
Comment
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 110.29 and 110.54).
Supports and resistances
111.28 **
111.02 *
110.57 **
110.40
110.15 last
109.59
109.32 **
109.06 *
108.79 **
Number of asterisks represents the strength of support and resistance levels.
