7647154 7/13/2017 6:21 PM, USD/HUF intraday: the RSI is overbought


Our pivot point is at 268.61.


Our preference

: the upside prevails as long as 268.61 is support.


Alternative scenario

: the downside breakout of 268.61 would call for 267.68 and 267.13.


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 268.85 and 268.76).


Supports and resistances

:

272.76 **

272.20 *

271.65 **

271.10

269.75 last

268.97

268.61 **

267.68 *

267.13 **