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Watching $USDX and potential resistance
Been looking at $USDX today, and it's intriguing to see it bumping right up against 25.58. It's been hovering around the top of its daily range (25.51–25.58), which makes me wonder if there's some selling interest or a natural resistance point forming right here. I'm curious if we see some profit-taking or if the momentum carries it higher. My initial thought is if it can't sustainably break and hold above 25.60 in the next few hours, there's a good chance it might retrace back towards the mid-25.00s. If it decisively pushes past that level, though, then my short-term thesis for a pullback is invalidated, and I'd be looking for a continuation towards 25.70+. Just sharing my perspective, always open to other views.
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It's always a fun game of 'will it or won't it' when you see a key level like that. Sometimes it's a brick wall, other times it's a mere speed bump on the way to new heights. Keeps things interesting, doesn't it?