Although #USDX Today has a potential of a retracement upward, it is still under pressure.

[Ben Graham]

[#USDX]

Although there is an appearance of a Bullish Divergence on the RSI(14) with the price movement of #USDX, the strong Death Cross formation between EMA(50) and EMA(200) indicates that sellers are still dominant.

Key Levels

1. Resistance. 2 : 99.49

2. Resistance. 1 : 99.16

3. Pivot : 98.98

4. Support. 1 : 98.65

5. Support. 2 : 98.47

Tactical Scenario:

Pressure Zone: If the price breaks down and closes below 98.65, it may continue its decline toward 98.47.

Momentum Extension Bias: If 98.47 is broken, #USDX will attempt to test the level at 98.14.

Invalidation Level / Bias Revision:

The downside bias is restrained if #USDX strengthens and closes above 99.49.

Technical Summary:

EMA(50) : 99.01

EMA(200): 99.31

RSI(14) : 46.59 + Bullish Divergent

Economic News Release Agenda:

Tonight, the following economic data will be released from the United States:

US - Challenger Job Cuts y/y - 19:30 WIB

US - Unemployment Claims - 20:30 WIB

US - Natural Gas Storage - 22:30 WIB

The material has been provided by InstaForex Company - www.instaforex.com