7647095 7/13/2017 6:12 PM, EUR/INR intraday: the RSI is oversold


73.609 is our pivot point.


Our preference

: the downside prevails as long as 73.609 is resistance.


Alternative scenario

: above 73.609, look for 73.865 and 74.017.


Comment

: the RSI is below 30. It could either mean that the pair is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 73.669 and 73.688).


Supports and resistances

:

74.017 **

73.865 *

73.609 **

73.509

73.314 last

72.995

72.843 **

72.691 *

72.539 **