USDX is reacting off resistance, further potential drop!

USDX is reacting off our first resistance at 89.65 (horizontal swing high resistance, 23.6% Fibonacci retracement, bearish channel resistance) and a strong reaction might occur below this level, pushing price down to our major support at 88.99 (horizontal swing low support). A breakout of our intermediate support at 89.26 (horizontal swing low support, 78.6% Fibonacci retracement) might provide the bearish acceleration to our major support level. Ichimoku cloud is showing signs of bearish pressure in line with our bearish bias.

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