7857656 9/8/2017 11:45 AM, USD/IDR intraday: the RSI is oversold


13244 is our pivot point.


Our preference

: the downside prevails as long as 13244 is resistance.


Alternative scenario

: the upside breakout of 13244, would call for 13261 and 13271.


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 negative and below its signal line. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 13290 and 13318).


Supports and resistances

:

13271 **

13261 *

13244 **

13238

13231 last

13202

13192 **

13182 *

13173 **