XMR/USD buy opportunity
XMR/USD has found support near 20-DMA currently at 330.73.
The pair has failed to close below 20-DMA on multiple occasions.
Technical indicators have turned slightly bullish, we see scope for resumption of upside.
RSI and 5-DMA have turned higher. ADX has not been supportive of the current downside.
On intraday charts, the pair has held support at 4H 200-SMA, and has edged above 200-DMA on 1H charts.
Retest of 477 levels on cards. We see bullish invalidation on close below 20-DMA.
Support levels - 361.71 (1H 200-SMA), 348.89 (5-DMA), 330.73 (20-DMA)
Resistance levels - 407. 29 (78.6% Fib retrace of 477 to 151.26 fall), 439.86 (88.6% Fib), 477 (Dec 20 high)
Good to go long on dips around 370/375, SL: 330, TP: 400/ 440/ 477
The pair has failed to close below 20-DMA on multiple occasions.
Technical indicators have turned slightly bullish, we see scope for resumption of upside.
RSI and 5-DMA have turned higher. ADX has not been supportive of the current downside.
On intraday charts, the pair has held support at 4H 200-SMA, and has edged above 200-DMA on 1H charts.
Retest of 477 levels on cards. We see bullish invalidation on close below 20-DMA.
Support levels - 361.71 (1H 200-SMA), 348.89 (5-DMA), 330.73 (20-DMA)
Resistance levels - 407. 29 (78.6% Fib retrace of 477 to 151.26 fall), 439.86 (88.6% Fib), 477 (Dec 20 high)
Good to go long on dips around 370/375, SL: 330, TP: 400/ 440/ 477
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.