Monero / Dollar may rise to 161.1 - 162.7

Our pivot point stands at 155.5.

Our preference

The upside prevails as long as 155.5 is support.

Alternative scenario

The downside breakout of 155.5 would call for 152.8 and 151.1.

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 trading above both its 20 and 50 period moving average (respectively at 156.9 and 156.7).

Supports and resistances

166.0 **

164.4 *

162.7 **

161.1

157.8 last

156.6

155.5 **

152.8 *

151.1 **

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