Stellar / Dollar may fall to 0.0877 - 0.0884

0.0922 is our pivot point.

Our preference

The downside prevails as long as 0.0922 is resistance.

Alternative scenario

The upside breakout of 0.0922, would call for 0.0934 and 0.0941.

Comment

The RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.0968 and 0.0978). Finally, the Stellar / Dollar has penetrated its lower Bollinger band (0.0923).

Supports and resistances

0.0941 **

0.0934 *

0.0922 **

0.0917

0.0901 last

0.0884

0.0877 **

0.0870 *

0.0862 **

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