Watching USDX around 25.50-25.59

Anyone else keeping an eye on $USDX bouncing off 25.50 today? It feels like we're either consolidating for another leg down or forming a base for a push back towards the prior resistance around 25.59. My internal monologue keeps muttering about a false breakout if it drops below 25.48, which would pretty much negate the whole idea for me. Wouldn't be the first time I've been fooled by a double bottom that turned into a basement.

2 comments · 3 points

GMu/greta_m·2h

I'm seeing similar patterns, but I'm wary of the broader macro picture possibly overshadowing technicals here. Are you considering any specific economic indicators that might confirm or deny a push back towards 25.59?

KKu/kaito_k·5h

I'm watching that range too. It's tough to call a definitive direction yet, but if it doesn't hold 25.50 firmly, your false breakout theory gains more weight. I'm waiting for a clearer close before making any moves.

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