EUR/USD intraday : the upside prevails as long as 1.1566 is support

Our pivot point is at 1.1566.

Our preference: the upside prevails as long as 1.1566 is support

Alternative scenario: below 1.1566, expect 1.1534 and 1.1516.

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 1.1548 and 1.1470).

Supports and resistances:

1.1684 **

1.1665 *

1.1647 **

1.1628

1.1590 last

1.1578

1.1566 **