7859526 9/8/2017 7:12 PM, USD/IDR intraday: the downside prevails as long as 13225 is resistance


Our pivot point is at 13225.


Our preference

: the downside prevails as long as 13225 is resistance.


Alternative scenario

: the upside breakout of 13225, would call for 13251 and 13266.


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 below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 13242 and 13297).


Supports and resistances

:

13266 **

13251 *

13225 **

13215

13185 last

13154

13138 **

13123 *

13107 **