Today, #USDX has the potential to strengthen toward its nearest resistance level

[Ben Graham]

[#USDX]

With all technical conditions indicating a strengthening bias, then #USDX has the potential to rise today.

Key Levels

1. Resistance. 2 : 98.64

2. Resistance. 1 : 98.60

3. Pivot : 98.38

4. Support. 1 : 98.14

5. Support. 2 : 97.92

Tactical Scenario:

Positive Reaction Zone: If the price of #USDX breaks above 98.38, there is potential to test the 98.60 level.

Momentum Extension Bias: If 98.60 is broken, then #USDX may move toward 98.64.

Invalidation Level / Bias Revision:

The upside bias weakens if the price of #USDX declines and breaks below 97.92.

Technical Summary:

EMA(50) : 98.35

EMA(200): 98.39

RSI(14) : 53.58

Economic News Release Agenda:

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

US - CPI y/y - 20:30 WIB

US - Unemployment Claims - 20:30 WIB

US - Philly Fed Manufacturing Index - 20:30 WIB

US - Natural Gas Storage - 20:30 WIB

US - TIC Long-Term Purchases - 04:00 WIB

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