7853994 9/7/2017 5:14 PM, USD/IDR intraday: the RSI is oversold


13324 is our pivot point.


Our preference

: the downside prevails as long as 13324 is resistance.


Alternative scenario

: above 13324, look for 13341 and 13351.


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 13326 and 13333). Finally, the USD/IDR is trading below its lower Bollinger band (standing at 13310).


Supports and resistances

:

13351 **

13341 *

13324 **

13317

13307 last

13285

13275 **

13265 *

13255 **