Our pivot point is at 110.69.
Our preference
Under pressure below 110.69.
Alternative scenario
The upside breakout of 110.69, would call for 111.23 and 111.55.
Comment
The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 110.34 and 110.32).
Supports and resistances
111.55 **
111.23 *
110.69 **
110.48
110.24 last
109.54
109.22 **
108.90 *
108.58 **
Number of asterisks represents the strength of support and resistance levels.


