IOT/USD chart - Trading View
Exchange - Bitfinex
Support: 0.3832 (110-EMA); Resistance: 0.4323 (21-EMA)
Technical Analysis: Bias Bearish
IOT/USD recovers from new monthly lows at 0.3748, bias remains bearish.
The pair was trading 2.61% higher on the day at 0.4070, at 11:10 GMT.
Recovery remains capped at 55-EMA resistance at 0.41, decisive break above to see gain till 21-EMA at 0.4325.
Indicators on the daily charts have turned slightly bearish. Price action has breached 50-DMA support.
5-DMA has turned and a bearish 5-DMA crossover on 20-DMA supports downside. RSI is below 50 and Stochs are sharply lower.
The pair finds strong support at daily cloud and 110-EMA. Break below will see further downside.
Next bear target lies at 61.8% Fib at 0.3571 ahead of 200-DMA at 0.3339.
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.


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