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Crypto Technicals: XLM/USD recovery from 4-month lows lacks traction, more weakness on cards

XLM/USD chart - Trading View 

Exchange - Kraken

Support: 0.08 (Mar 4th low); Resistance: 0.0911 (5-DMA)

Technical Analysis: Bias Bearish

XLM/USD trades 1.62% lower on the day at 0.0842 at 12:50 GMT, major trend is bearish.

The pair has retraced from session highs at 0.0883, scope for further downside.

Price action extending weakness below 200-DMA. Convergence of RSI with price action adds to downside pressure.

The pair is attempting minor recovery after Doji formation on Monday's candle.

However, recovery attempts lack traction. Upside rejected at session highs.

Next major support lies at 88.6% Fib at 0.0775. Break below eyes 2019 lows at 0.0665.

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

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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Previous

48.6 %

January 31 00:00 UTC 818405818405m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 818405818405m

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 830225830225m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 818405818405m

ARAnnual Primary Balance*

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Forecast

2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 830225830225m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 818405818405m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 818405818405m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 818405818405m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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