Monero / Dollar may rise to 167.4 - 169.3

Our pivot point stands at 160.8.

Our preference

Rebound towards 169.3.

Alternative scenario

The downside breakout of 160.8 would call for 157.7 and 155.8.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (163.1) but under its 50 period moving average (164.7).

Supports and resistances

173.0 **

171.2 *

169.3 **

167.4

163.6 last

162.0

160.8 **

157.7 *

155.8 **

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