USDX is testing our first resistance at 91.68 (horizontal overlap resistance, 100% Fibonacci extension, 50% Fibonacci retracement). A strong reaction might occur below this level, pushing price down to our major support at 91.00 (horizontal overlap support, 23.6% Fibonacci retracement).
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching its major resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Stochastic (55,5,3) is also seeing a bearish divergence and is approaching its major resistance where a reaction off this level might see a corresponding drop in price.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results