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    Daily analysis of USDX for February 16, 2016 2016-02-16

    The USDX had a volatile session, especially during the afternoon, where we could see the strong resistance found around the level of 96.80. Currently, if the index achieves in breaking the support level of 96.40, then we can expect a decline towards the level 95.81. In another scenario, the USDX can continue higher in case it breaks yesterday's highs.

    USDXH1.png

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    H1 chart's resistance levels: 96.80 / 97.36

    H1 chart's support levels: 96.40 / 95.81

    Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US dollar index breaks with a bearish candlestick; the support level is found at 96.40, take profit is at 95.81, and stop loss is at 97.01.


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