7647143 7/13/2017 6:20 PM, USD/CLP intraday: the RSI is oversold


Our pivot point stands at 665.13.


Our preference

: the downside prevails as long as 665.13 is resistance.


Alternative scenario

: above 665.13, look for 667.42 and 668.78.


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 below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 664.97 and 665.88).


Supports and resistances

:

668.78 **

667.42 *

665.13 **

664.24

663.19 last

660.15

658.79 **

657.43 *

656.07 **