Monero / Dollar may fall to 157.8 - 159.6

Our pivot point stands at 166.0.

Our preference

As long as 166 is resistance look for 157.8.

Alternative scenario

Above 166.0, look for 169.0 and 170.9.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price stands below its 20 and 50 period moving average (respectively at 163.6 and 163.6).

Supports and resistances

170.9 **

169.0 *

166.0 **

164.8

163.6 last

159.6

157.8 **

156.0 *

154.2 **

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