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Technical analysis of USDX for June 23, 2015

US existing home sales helped the greenback get up from the lows. Existing home sales data rose 5.1% to a seasonally adjusted annually rate of 5.35million. The USDX headed towards higher lows and higher highs. At the Asian session, the index hit a higher high facing strong resistance at 94.65 h1200hrsma and 50hrsma in the four-hour chart. In case bulls take it off, they will aim for 94.75 and 95.10. Whereas, 94.75 is the another crucial resistance.

Ahead of today's US data release, the greenback is showing strength during the Asian session. Core durable good orders, flash manufacturing PMI, and new home sales data is due today. We expect another positive readings for durable good orders. At today's Asian session, the USDX is showing tremendous strength pushing down other currencies on its way. The kiwi is trading at a 5-year low.


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