USDX | Will The CPI Data Shake Up the Dollar Index? | Indices
Today’s video asks if USDX will continue to remain below resistance and possibly break lower if today’s CPI data comes in lower than expected. We are mainly focused on the resistance areas and the current LH that has formed around the supply and resistance areas discussed in our video update.
Today’s focus: USDX
Pattern – LH Resistance push
Support – 102.45
Resistance – 104.12 – 104.35
We have also noted some bullish price action; if CPI rises to the upside, this could set up a new continuation higher. But for now, as noted in today’s video, we will continue to look at the resistance holds and the current trend of CPI declines on the y/y.
US CPI data is due on Wednesday at 8:30 am EST or 12:30 pm AEDT.
Good trading.
U.S. Dollar Index | USDX | Indices | Indices Trading | Price Action | Technical Analysis | Trend Analysis | Chart Patterns | Technical Indicators | Continuation Patterns
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