EUR/USD intraday: the downside prevails as long as 1.2237 is resistance

  • May 19, 2021

Our pivot point stands at 1.2237.

Our preference: the downside prevails as long as 1.2237 is resistance.

Alternative scenario: the upside breakout of 1.2237, would call for 1.2271 and 1.2292.

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 1.2212 and 1.2221).

Supports and resistances:
1.2292 **
1.2271 *
1.2237 **
1.2224
1.2206 last
1.2165
1.2145 **
1.2125 *
1.2105 **