7645555 7/13/2017 12:29 PM, USD/SEK intraday: the RSI is oversold


Our pivot point is at 8.4210.


Our preference

: the downside prevails as long as 8.4210 is resistance.


Alternative scenario

: above 8.4210, look for 8.4500 and 8.4660.


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 8.4072 and 8.4098).


Supports and resistances

:

8.4660 **

8.4500 *

8.4210 **

8.4100

8.3960 last

8.3620

8.3450 **

8.3280 *

8.3110 **