AUD/USD intraday: the RSI is overbought

AUDUSD

Trading Central 2021-01-13 04:58:05

Our pivot point is at 0.7745.

Our preference: the upside prevails as long as 0.7745 is support.

Alternative scenario: below 0.7745, expect 0.7718 and 0.7701.

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 price is above its 20 and 50 period moving average (respectively at 0.7734 and 0.7718).

Supports and resistances:

0.7855 **

0.7839 *

0.7822 **

0.7806

0.7771 last

0.7755

0.7745 **

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