USDX: Signs of double topping
The USDX has declined within three waves after placing 100.40 significant peak and it is currently maintaining levels below SMA20 and SMA50 along with negative crossover as seen over daily studies.
This moving averages overlap is the first one caught on the daily graph since overlapping positively in the last week of July 2014.
In the interim, Parabolic SAR covered the movements from the topside as well, affirming the bearish prospects.
RSI14 stability below the value of 50.00 is a negative factor; although, approaching the oversold territories, marked by 30.00 may cause some kind of fluctuation.
To summarize this, another daily closing below 96.25-96.40 will actuate traders to sell the U.S. dollar, aiming to challenge 93.70 regions.
Only coming back above the resistance confluence of 97.80 will negate.