in ANALISA by hafid zaini

7645490 7/13/2017 12:22 PM, GBP/AUD intraday: the RSI is oversold


1.6807 is our pivot point.


Our preference

: the downside prevails as long as 1.6807 is resistance.


Alternative scenario

: the upside breakout of 1.6807, would call for 1.6864 and 1.6897.


Comment

: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.6781 and 1.6789). Finally, the GBP/AUD has penetrated its lower Bollinger band (1.6760).


Supports and resistances

:

1.6897 **

1.6864 *

1.6807 **

1.6785

1.6758 last

1.6687

1.6653 **

1.6619 *

1.6586 **