7640769 7/12/2017 5:05 PM, AUD/INR intraday: the RSI is overbought


Our pivot point is at 49.246.


Our preference

: as long as 49.246 is support look for 49.667.


Alternative scenario

: below 49.246, expect 49.088 and 48.994.


Comment

: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is above its 20 and 50 MAs (respectively at 49.299 and 49.168).


Supports and resistances

:

49.855 **

49.761 *

49.667 **

49.573

49.385 last

49.308

49.246 **

49.088 *

48.994 **