There is potential for the USDX to strengthen in the near term with the appearance of a Bullish Divergence on the RSI

[Ben Graham]

#USDX

The current price movement of #USDX is still ranging, indicated by the current price movement which is in the middle of the EMA(50) & EMA(200) but with the appearance of Bullish Divergence in the RSI(14) which is also in the Neutral Bullish area, it gives an indication of the potential for strengthening in the near future.

Key Levels

1. Resistance. 2 : 99.14

2. Resistance. 1 : 98.94

3. Pivot : 98.65

4. Support. 1 : 98.45

5. Support. 2 : 98.16

Tactical Scenario

Positive Reaction Zone: If the price holds above 98.65, #USDX may move up toward 98.94.

Momentum Extension Bias: If 98.94 is broken to the upside, there is potential for #USDX to test 99.14.

Invalidation Level / Bias Revision

The upside bias weakens if #USDX falls below 98.16.

Technical Summary

EMA(50) : 98.66

EMA(200): 98.81

RSI(14) : 57.90 + Bullish Divergent

Economic News Release Agenda:

Tonight the United States will release the following economic data:

US - Final GDP q/q - 20:30 WIB

US- Unemployment Claims - 20:30 WIB

US - Final GDP Price Index q/q - 20:30 WIB

US - Core PCE Price Index m/m - 22:00 WIB

US - Personal Income m/m - 22:00 WIB

US - Personal Spending m/m - 22:00 WIB

US - Natural Gas Storage - 22:30 WIB

US - Crude Oil Inventories - 00:00 WIB

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