FX.co ★ #USDX has the potential to continue its weakening today, but there is a possibility that volatility will decrease when the United States session opens due to the Thanksgiving Day national holiday.

[US Dollar Index]

Although all technical indicators show that sellers are quite dominant, indicating a potential move toward its nearest support level, today is a national holiday for Thanksgiving Day, which may lead to reduced volatility in the market, especially during the U.S. session.

Key Levels

1. Resistance. 2 : 100.07

2. Resistance. 1 : 99.81

3. Pivot : 99.67

4. Support. 1 : 99.41

5. Support. 2 : 99.27

Tactical Scenario:

Pressure Zone: If the price breaks down and closes below 99.41, #USDX has the potential to test 99.27.

Momentum Extension Bias: If 99.27 is broken and closes below, #USDX will likely continue its decline to 99.01.

Invalidation Level / Bias Revision:

The downside bias is restrained if the price of #USDX strengthens and breaks out to close above 100.07.

Technical Summary:

EMA(50) : 99.68

EMA(200): 99.85

RSI(14) : 30.59

Economic News Release Agenda:

Today is a national holiday for Thanksgiving Day in the United States, so no economic data will be released. Please be cautious of low volatility when the U.S. session opens today.