InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for March 07, 2016 2016-03-07

    USDX is making a corrective move below the 200 SMA. The Index may be performing a decline towards the 97.13 level, where a rebound could happen. We should note that the 200 SMA is acting as a dynamic resistance.

    USDXH1.png

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    H1 chart's resistance levels: 98.59 / 99.08

    H1 chart's support levels: 98.21 / 98.08

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is 98.59, take profit is at 99.08, and stop loss is at 98.10.


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