in ANALISA by hafid zaini

7640773 7/12/2017 5:06 PM, CHF/INR intraday: the RSI is overbought


Our pivot point stands at 66.88.


Our preference

: the upside prevails as long as 66.88 is support.


Alternative scenario

: the downside breakout of 66.88 would call for 66.71 and 66.61.


Comment

: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 66.89 and 66.87).


Supports and resistances

:

67.53 **

67.43 *

67.33 **

67.23

67.02 last

66.94

66.88 **

66.71 *

66.61 **