EUR/USD intraday: the downside prevails as long as 1.2203 is resistance

  • May 19, 2021

Our pivot point is at 1.2203.

Our preference: the downside prevails as long as 1.2203 is resistance.

Alternative scenario: the upside breakout of 1.2203, would call for 1.2237 and 1.2258.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.2204 and 1.2216).

Supports and resistances:
1.2258 **
1.2237 *
1.2203 **
1.2190
1.2176 last
1.2130
1.2109 **
1.2089 *
1.2069 **