7645543 7/13/2017 12:27 PM, USD/DKK intraday: the RSI is oversold


Our pivot point stands at 6.5190.


Our preference

: the downside prevails as long as 6.5190 is resistance.


Alternative scenario

: the upside breakout of 6.5190, would call for 6.5385 and 6.5501.


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 is trading under both its 20 and 50 MAs (respectively at 6.5090 and 6.5036).


Supports and resistances

:

6.5501 **

6.5385 *

6.5190 **

6.5113

6.5035 last

6.4787

6.4671 **

6.4555 *

6.4439 **