Our pivot point is at 1.6386.
Our preference:
the upside prevails as long as 1.6386 supports.
Alternative scenario:
the downside breakout of 1.6386 would call for 1.6338 and 1.6310.
Comment:
the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6413 and 1.6401).
Our preference:
the upside prevails as long as 1.6386 supports.
Alternative scenario:
the downside breakout of 1.6386 would call for 1.6338 and 1.6310.
Comment:
the RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 1.6413 and 1.6401).