7645546 7/13/2017 12:27 PM, USD/HUF intraday: the RSI is oversold


Our pivot point is at 269.19.


Our preference

: the downside prevails as long as 269.19 is resistance.


Alternative scenario

: the upside breakout of 269.19, would call for 270.12 and 270.68.


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 negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 268.68 and 268.60).


Supports and resistances

:

270.68 **

270.12 *

269.19 **

268.83

268.43 last

267.28

266.73 **

266.18 *

265.62 **