USDX approaching support, potential bounce!

USDX is approaching our first support at 89.40 (horizontal swing low support) which coincides with our short term ascending support line. A strong bounce might occur above this level, pushing price up to our major resistance at 89.94 (horizontal swing high resistance, 50% Fibonacci retracement).

Stochastic (55,5,3) is also approaching our major support and a bounce off this level might be a good precursor for a potential rise in price.

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Yorum:

on its way up! :)