Monero / Dollar may fall to 164.0 - 165.6

Our pivot point stands at 172.4.

Our preference

As long as 172.4 is resistance look for 164.

Alternative scenario

The upside breakout of 172.4, would call for 175.1 and 176.7.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price stands below its 20 and 50 period moving average (respectively at 169.6 and 169.4).

Supports and resistances

176.7 **

175.1 *

172.4 **

171.3

169.3 last

165.6

164.0 **

162.4 *

160.8 **

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