7647071 7/13/2017 6:08 PM, AUD/INR intraday: the RSI is overbought


Our pivot point is at 49.702.


Our preference

: the upside prevails as long as 49.702 is support.


Alternative scenario

: the downside breakout of 49.702 would call for 49.522 and 49.414.


Comment

: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 49.665 and 49.397).


Supports and resistances

:

50.396 **

50.289 *

50.181 **

50.074

49.848 last

49.773

49.702 **

49.522 *

49.414 **