Our pivot point is at 1.0480. Our preference: the downside prevails as long as 1.0480 is resistance. Alternative scenario: above 1.0480, look for 1.0490 and 1.0500. Comment: the RSI is below 50. 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 1.0462 and 1.0466).