XMR/USD chart - Trading View
Exchange - Kraken
Support: 79.45 (20W SMA); Resistance: 83.58 (110-EMA)
Technical Analysis: Bias Bearish
Monero has paused 4 consecutive sessions of losses and has edged higher on the day.
However, recovery attempts find stiff resistance at 110-EMA at 83.58.
The pair has slipped lower from session highs at 83.56 and was trading at 81.95 at 17:35 GMT.
Price action has slipped below cloud and major moving averages. Technical indicators have turned bearish.
RSI is below 50 and momentum studies are bearish. A bearish divergence on RSI and Stochs adds to the bearish bias.
Scope for weakness till lower Bollinger band at 71.41. Bearish continuation only below 200-DMA (68.13).
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
