Our pivot point stands at 16.8448.
Our preference
Target 16.6671.
Alternative scenario
The upside breakout of 16.8448, would call for 16.9006 and 16.9339.
Comment
The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (16.7863) but above its 50 period moving average (16.7489).
Supports and resistances
16.9339 **
16.9006 *
16.8448 **
16.8229
16.7700 last
16.7002
16.6671 **
16.6339 *
16.6008 **
Number of asterisks represents the strength of support and resistance levels.


