7645541 7/13/2017 12:26 PM, USD/CLP intraday: the RSI is oversold


Our pivot point stands at 665.14.


Our preference

: the downside prevails as long as 665.14 is resistance.


Alternative scenario

: above 665.14, look for 667.44 and 668.81.


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 negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 664.97 and 665.88).


Supports and resistances

:

668.81 **

667.44 *

665.14 **

664.24

663.19 last

660.14

658.77 **

657.40 *

656.04 **