0.5708 is our pivot point.
: the downside prevails as long as 0.5708 is resistance.
: the upside breakout of 0.5708, would call for 0.5722 and 0.5730.
: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 0.5712 and 0.5718).
Supports and resistances