7752741 8/10/2017 12:17 PM, USD/IDR intraday: the RSI is overbought


13326 is our pivot point.


Our preference

: the upside prevails as long as 13326 is support.


Alternative scenario

: the downside breakout of 13326 would call for 13303 and 13289.


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 above its 20 and 50 MAs (respectively at 13335 and 13324).


Supports and resistances

:

13415 **

13401 *

13387 **

13374

13345 last

13335

13326 **

13303 *

13289 **