7647066 7/13/2017 6:08 PM, AUD/CHF intraday: the RSI is overbought


Our pivot point is at 0.7452.


Our preference

: the upside prevails as long as 0.7452 is support.


Alternative scenario

: below 0.7452, expect 0.7427 and 0.7411.


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 positive and above its signal line. The configuration is positive. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 0.7432 and 0.7413).


Supports and resistances

:

0.7551 **

0.7536 *

0.7521 **

0.7506

0.7473 last

0.7462

0.7452 **

0.7427 *

0.7411 **