USDX is testing our first support at 89.57 (horizontal overlap support, 61.8%, 76.4% Fibonacci retracement). A strong bounce might occur at this level, pushing price up to our major resistance at 90.32 (horizontal overlap resistance, 100% Fibonacci extension, 76.4% Fibonacci retracement). A breakout of our intermediate resistance at 90.06 (horizontal pullback resistance, 61.8% Fibonacci extension, 50% Fibonacci retracement) might provide the bullish acceleration to our major resistance level.
Stochastic (55,5,3) is also seeing a bullish divergence and is approaching our major support, where we might see a corresponding rise in price should it bounce off this level.
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