7852972 9/7/2017 12:35 PM, USD/IDR intraday: the RSI is oversold


13338 is our pivot point.


Our preference

: the downside prevails as long as 13338 is resistance.


Alternative scenario

: above 13338, look for 13354 and 13364.


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 negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 13333 and 13336).


Supports and resistances

:

13364 **

13354 *

13338 **

13331

13324 last

13305

13295 **

13285 *

13275 **