IOTUSD; Critical
Bears are pressing the market against the more critical 1.60 support zone; it is the last major Fibonacci level (61.8%) and a downward sloping line connecting previous lows.
If market spends time below it downside risk is extended to 1.30. 1.44 can see some intermediate support. Thus far, 1.60 has not been broken and succesfully defending this level today can see a return to the downtrendline around 1.71/1.76 today. This downtrendline needs to give way to improve the technical picture.
If market spends time below it downside risk is extended to 1.30. 1.44 can see some intermediate support. Thus far, 1.60 has not been broken and succesfully defending this level today can see a return to the downtrendline around 1.71/1.76 today. This downtrendline needs to give way to improve the technical picture.
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