If #USDX successfully breaks above its pivot level, it has the potential to continue strengthening today.

[Ben Graham]

[US Dollar Index]

With RSI(14) condition in the Neutral-Bullish level and EMA(50) & EMA(200) forming a Golden Cross, the US Dollar Index has the potential to strengthen throughout today.

Key Levels

1. Resistance. 2 : 98.88

2. Resistance. 1 : 98.80

3. Pivot : 98.63

4. Support. 1 : 98.55

5. Support. 2 : 98.38

Tactical Scenario

Positive Reaction Zone: If #USDX breaks out and closes above 98.63, it is likely to continue up toward 98.80.

Momentum Extension Bias: If 98.80 is broken, the US Dollar Index may test 98.88.

Invalidation Level / Bias Revision

The upside bias weakens if #USDX falls and breaks below 98.38.

Technical Summary

EMA(50) : 98.60

EMA(200): 98.45

RSI(14) : 55.45

Economic News Release Agenda:

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

US - Unemployment Claims - 20:30 WIB

US - Prelim Nonfarm Productivity q/q - 20:30 WIB

US - Prelim Unit Labor Costs q/q - 20:30 WIB

US - Trade Balance - 20:30 WIB

US - Final Wholesale Inventories m/m - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

US - Consumer Credit m/m - 03:00 WIB

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