in ANALISA by hafid zaini

7645524 7/13/2017 12:25 PM, NZD/INR intraday: the RSI is overbought


Our pivot point stands at 46.84.


Our preference

: the upside prevails as long as 46.84 is support.


Alternative scenario

: the downside breakout of 46.84 would call for 46.72 and 46.64.


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 positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 46.75 and 46.77).


Supports and resistances

:

47.34 **

47.27 *

47.19 **

47.12

46.96 last

46.89

46.84 **

46.72 *

46.64 **