29.01.202609:35 Forex Analysis & Reviews: The US Dollar Index appears to be under pressure today and may weaken toward its nearest support level.

Relevance up to 22:00 UTC--5

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[#USDX]

With the appearance of Hidden Bearish Divergence between the RSI(14) indicator with the EMA(50 & EMA(200 which intersect "Death Cross", then there is a wide opportunity for #USDX to weaken down to its nearest Support level.

Key Levels

1. Resistance. 2 : 97.31

2. Resistance. 1 : 96.81

3. Pivot : 96.27

4. Support. 1 : 95.77

5. Support. 2 : 95.23

Tactical Scenario

Pressure Zone: If the price breaks down below 96.27, there is potential pressure toward 95.77.

Momentum Extension Bias: If 95.77 is breached, there is strong potential for #USDX to move down to 95.23.

Invalidation Level / Bias Revision

The downside bias is restrained if the price strengthens and breaks above 97.31.

Technical Summary

EMA(50) : 96.39

EMA(200): 97.18

RSI(14) : 42.25 + Hidden Bearish Divergent

Economic News Release Agenda:

From the United States the following economic data will be released:

US - Unemployment Claims - 20:30 WIB

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

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

US - Trade Balance - 20:30 WIB

US - Factory Orders m/m - 22:00 WIB

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

US - Natural Gas Storage - 22:00 WIB

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