Monero / Dollar may rise to 167.5 - 169.3

Our pivot point is at 161.2.

Our preference

The upside prevails as long as 161.2 is support.

Alternative scenario

The downside breakout of 161.2 would call for 158.1 and 156.3.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is below its 20 period moving average (163.9) but above its 50 period moving average (163.7).

Supports and resistances

172.9 **

171.1 *

169.3 **

167.5

163.9 last

162.4

161.2 **

158.1 *

156.3 **

Number of asterisks represents the strength of support and resistance levels.