Technical analytics



The buying momentum faded when the price approached the level 225.000. Buyers lost strength here and the spot turned around afterwards. A growing selling pressure sent the rate to the 215.000 area first. Sellers did not stop there and continued dragging the price lower. They visited the 220.000 level in the Asian session and moved to 212.000 by the morning. The EMA50 and the EMA100 are heading higher, while the EMA200 is neutral. The MACD histogram decreased which indicates the sellers’ strength. Stochastic is bearish and calls for further downside. The resistance stands at 225.000, the support is at 200.000.

A failure to test the 225.000 level may cause a sell-off to the 210.000 level.

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