InstaForex - Analytics

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    Daily analysis of USDX for February 10, 2016 2016-02-10

    The USDX had another bearish session below the resistance level of 96.40 after a decline held from the level of 96.80, which is the latest significant resistance formed during yesterday's session. However, we can expect a rebound at current levels in order to retest the level of 96.40. If a breakout happens over there, then it could rally until the price zone around 96.80.

    USDXH1.png

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    H1 chart's resistance levels: 96.40 / 96.80

    H1 chart's support levels: 95.81 / 95.32

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks with a bearish candlestick; the support level is found at 95.81, take profit is at 95.32, and stop loss is at 96.27.


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