With all technical conditions supporting its decline today, Palladium against the USD has the potential to drop to its nearest

[XPD/USD]

With the EMA (50) position being below the EMA (200), where the Death Cross condition is confirmed by the RSI position being at the Neutral-Bearish level, there is a quite strong indication that Sellers are currently dominating.

Key Levels:

1. Resistance. 2 : 1440.23

2. Resistance. 1 : 1419.33

3. Pivot : 1397.45

4. Support. 1 : 1376.55

5. Support. 2 : 1354.67

Tactical Scenario:

Pressure Zone: If the price breaks down below 1376.55, XPD/USD has the potential to test 1354.67.

Momentum Extension Bias: If 1354.67 is breached, there is a chance XPD/USD will head toward 1333.77.

Invalidation Level / Bias Revision:

The downside bias is contained if the price of XPD/USD strengthens and closes above 1440.23.

Technical Summary:

EMA(50) : 1396.10

EMA(200): 1422.12

RSI(14) : 43.17

Economic News Release Agenda:

Tonight from the United States, there is only the release of Factory Orders m/m at 22:00 WIB.