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Crypto Technicals: XMR/USD bounces off 55-EMA support, 'Golden Cross' keeps scope for upside

Fri, 10 May 2019, 11:24 am UTC

XMR/USD chart - Trading View

Exchange - Binance

Support: 64.10 (55-EMA); Resistance: 73 (Upper BB)

Technical Analysis: Bias Neutral

- XMR/USD edges higher on the day, trades 3.58% higher at 68.53 at 11:00 GMT

- The pair has bounced off 55-EMA support and has retraced above 21-EMA

- Price action is consolidating above 200-DMA and daily cloud support

- Technical indicators on the daily charts are biased neutral

- That said, 'Golden Cross' formation on daily charts keeps scope for upside

- Close above 5-DMA will see a retest of trendline resistance at 75.50

- Break below 55-EMA will see drag till 200-DMA at 61.30. Decisive break below 200-DMA required for bullish invalidation

For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.

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