7645556 7/13/2017 12:29 PM, USD/SKK intraday: the RSI is oversold


Our pivot point stands at 26.4009.


Our preference

: the downside prevails as long as 26.4009 is resistance.


Alternative scenario

: the upside breakout of 26.4009, would call for 26.4748 and 26.5188.


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 26.3660 and 26.3446).


Supports and resistances

:

26.5188 **

26.4748 *

26.4009 **

26.3718

26.3354 last

26.2474

26.2034 **

26.1594 *

26.1155 **