Monero / Dollar may rise to 167.7 - 169.5

Our pivot point is at 161.0.

Our preference

The upside prevails as long as 161 is support.

Alternative scenario

The downside breakout of 161 would call for 157.9 and 156.1.

Comment

The RSI is above 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 163.7 and 163.7).

Supports and resistances

173.2 **

171.4 *

169.5 **

167.7

164.0 last

162.2

161.0 **

157.9 *

156.1 **

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