The Census Bureau released new home sales data for September. New Home Sales (Oct. annualized): 467KForecast: 473KPrevious 466K (Revised from 504K) (click to enlarge; source: forexfactory.com) The reading missed average forecasts, but was similar to the reading in August. However, August's print had a big downward revision. This is nothing concerning, but it does reflect the gradual process of the current housing market recovery. The USD was bullish this week up from 84.74 to 85.94. However, it was retreating ahead of the new home sales data point. After the release, price continued to fall, as the data point was slightly disappointing so it failed to provide any relief in the intra-session time-frame. USDX 1H Chart 10/24(click to enlarge) Now USDX looks poised to test a support/resistance pivot area around 85.37, which is reinforced by the 200-hour SMA. The 1H RSI fell below 40 to show loss of this week's bullish momentum. we can perhaps wait at least for some consolidation and price price can hold above 85.37, the bullish mode remains. However, a break below 85.20 might reverse this week's bullish outlook to a neutral and possibly bearish one in the coming weeks - its a little too early to speculate, but below 85.20, our bullish outlook weakens greatly.