Monero / Dollar may rise to 161.6 - 163.3

Our pivot point is at 156.1.

Our preference

The upside prevails as long as 156.1 is support.

Alternative scenario

The downside breakout of 156.1 would call for 153.3 and 151.6.

Comment

The RSI is above its neutrality area at 50. 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 157.6 and 156.3).

Supports and resistances

166.6 **

165.0 *

163.3 **

161.6

158.3 last

157.2

156.1 **

153.3 *

151.6 **

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