7647073 7/13/2017 6:09 PM, AUD/SGD intraday: the RSI is overbought


Our pivot point is at 1.0630.


Our preference

: the upside prevails as long as 1.0630 is support.


Alternative scenario

: below 1.0630, expect 1.0610 and 1.0600.


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 above its signal line and positive. The configuration is positive. Moreover, the pair is above its 20 and 50 MAs (respectively at 1.0617 and 1.0592).


Supports and resistances

:

1.0730 **

1.0710 *

1.0700 **

1.0680

1.0654 last

1.0640

1.0630 **

1.0610 *

1.0600 **