EUR/USD Intraday: the RSI is overbought
Apr 3, 2025 3:19 PM
the upside prevails as long as 1.1070 is support
Our pivot point is at 1.1070.
Our preference:
the upside prevails as long as 1.1070 is support
Alternative scenario:
below 1.1070, expect 1.1040 and 1.1023.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1032 and 1.0934).
Supports and resistances:
1.1215 **
1.1197 *
1.1179 **
1.1161
1.1118 last
1.1082
1.1070 **
1.1040 *
1.1023 **
Our preference:
the upside prevails as long as 1.1070 is support
Alternative scenario:
below 1.1070, expect 1.1040 and 1.1023.
Comment:
the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1032 and 1.0934).
Supports and resistances:
1.1215 **
1.1197 *
1.1179 **
1.1161
1.1118 last
1.1082
1.1070 **
1.1040 *
1.1023 **
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EUR/USD
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