Source: PaxForex Premium Analytics Portal, Technical Insight
Raphael Bostic, President of Atlanta Fed, speaks positively about inflation progression in April but declares the Fed is not prepared to lower the policy rate
Pivot: 1.3609
Analysis:
While the price is above 1.3600, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3609
- Take Profit 1: 1.3800
- Take Profit 2: 1.3900
Alternative scenario:
If level 1.3600 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3600
- Take Profit 1: 1.3500
- Take Profit 2: 1.3400
Comment:
RSI shows the possibility of an uptrend in the medium term.
Key levels:
| Resistance | Support |
| 1.4000 | 1.3600 |
| 1.3900 | 1.3500 |
| 1.3800 | 1.3400 |
