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FxWirePro: XMR/USD upside capped by 61.8% fib, good to buy on dips

Bitcoin is consolidating after hitting high of 6596 and is currently trading around $6462. Any break below 5800 confirms bearish continuation.Major altcoins following foot steps of Bitcoin.

 

XMRUSD has shown a good recovery of more than 25% after hitting low of $96.67. The pair hits high of $122.95. It has lost more than $20 from the high.
 

The near term resistance is around $128.45 (61.8% fib) and any break above targets $142/ $151.95.

 

On the lower side, near term support is around $106 (50- day MA) and any close below targets $100/$96.

 

It is good to buy on dips around $104-$105 with SL around $96 for the TP of $142.

 

 

 

 

 

 

 

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