7645562 7/13/2017 12:31 PM, USD/KRW intraday: the RSI is oversold


Our pivot point is at 1138.10.


Our preference

: the downside prevails as long as 1138.10 is resistance.


Alternative scenario

: the upside breakout of 1138.10, would call for 1141.60 and 1143.60.


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 1140.55 and 1145.73).


Supports and resistances

:

1143.60 **

1141.60 *

1138.10 **

1136.80

1135.40 last

1131.20

1129.20 **

1127.10 *

1125.10 **