7645554 7/13/2017 12:29 PM, USD/RUB intraday: the RSI is overbought


Our pivot point is at 59.887.


Our preference

: our next up target stands at 60.837.


Alternative scenario

: below 59.887, expect 59.547 and 59.345.


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 above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 60.007 and 60.211). Finally, the USD/RUB has crossed above its upper Bollinger band (60.192).


Supports and resistances

:

61.243 **

61.040 *

60.837 **

60.635

60.213 last

60.021

59.887 **

59.547 *

59.345 **