FxWirePro- FTMUSD (Chart of the day)

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FTMUSD holds above $0.75 after a minor consolidation.

Any close above $1.25 confirms further bullishness.

FTMUSD surged more than 30% in this month. The pair surged more than 5% today with robust trading volume of $457 million. The pair holds well above the short-term (34 and 55 EMA) and long-term moving average. It hit a high of $0.7892 and is currently trading around $0.7687.

The bullish invalidation can happen if the pair closes below $0.50. On the lower side, the near-term support is $0.60. Any break below targets $0.50/$0.35/$0.25/$0.20.

The immediate resistance stands at around $0.7500. Any close above confirms a minor pullback. A jump to $0.8650/$1 is possible. A surge past $1 will take FTM to $1.25.

It is good to buy on dips around $0.60 SL around $0.40 for TP of $1/$1.25.

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