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UNUS SED LEO (LEO) has started a recovery, which is expected to face selling at the 20-day EMA ($9.36).
If the price turns down from the 20-day EMA, it will signal that the sentiment has turned negative and traders are selling on rallies. That increases the risk of a break below the $8.80 support. If that happens, the LEO/USD pair could drop to $8.30.
Contrary to this assumption, if the price rises and maintains above the 20-day EMA, it indicates solid buying at lower levels. The bulls will then attempt to push the price to the overhead resistance at $9.90.