17.03.202607:34 Forex Analysis & Reviews: #USDX has the potential to continue the decline towards its nearest support level

[#USDX]

If we look at the technical data, starting from both EMAs forming a Death Cross intersection and RSI(14) indicator in the Neutral-Bearish area, it is clear that #USDX has a chance to weaken today toward its nearest support level.

Key Levels

1. Resistance. 2 : 100.74

2. Resistance. 1 : 100.26

3. Pivot : 99.94

4. Support. 1 : 99.46

5. Support. 2 : 99.14

Tactical Scenario

Pressure Zone: If the price of #USDX breaks down below 99.46, there is a potential pressure toward 99.14.

Momentum Extension Bias: If 99.14 is also broken to the downside, 98.66 could be tested in the near term.

Invalidation Level / Bias Revision

The downside bias is restrained if #USDX strengthens and climbs above 100.74.

Technical Summary

EMA(50) : 99.94

EMA(200): 99.68

RSI(14) : 49.24

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