USDX: Thoughts and Analysis
Today's focus: USDX
Pattern – Minor Support.
Support – 102.06
Resistance – 102.52
Hi, and thanks for checking out today's update. Today, we are looking at USDX on the daily chart.
Today's video asks if USDX will continue to hold short-term support at 106.06 and make a new move at testing resistance, or is this just descending triangle price action, which in time will resume the overall downtrend with a new breakout lower.
Traders will also be watching this week's CPI data, which could have some influence on Fed members depending on what we see come in. In the meantime, we will contnue to watch buyers from 102.06 support.
US CPI data will be released this Friday at 12:30 am AEDT.
Good trading.
Pattern – Minor Support.
Support – 102.06
Resistance – 102.52
Hi, and thanks for checking out today's update. Today, we are looking at USDX on the daily chart.
Today's video asks if USDX will continue to hold short-term support at 106.06 and make a new move at testing resistance, or is this just descending triangle price action, which in time will resume the overall downtrend with a new breakout lower.
Traders will also be watching this week's CPI data, which could have some influence on Fed members depending on what we see come in. In the meantime, we will contnue to watch buyers from 102.06 support.
US CPI data will be released this Friday at 12:30 am AEDT.
Good trading.
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