7645542 7/13/2017 12:27 PM, USD/CZK intraday: the RSI is oversold


22.889 is our pivot point.


Our preference

: the downside prevails as long as 22.889 is resistance.


Alternative scenario

: above 22.889, look for 22.963 and 23.007.


Comment

: the RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 22.848 and 22.831).


Supports and resistances

:

23.007 **

22.963 *

22.889 **

22.860

22.830 last

22.734

22.690 **

22.646 *

22.602 **