InstaForex - Analytics

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    Daily analysis of USDX for March 15, 2016 2016-03-15

    The USDX is still facing strong resistance around the level of 96.61, where a pullback can happen towards the support zone of 96.03. That level has been tested for several times and that's why we would call it a strong demand territory. However, if a breakout happens there to the downside, then we can expect a decline towards the level of 95.44.

    1457995406_USDXH1.png

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    H1 chart's resistance levels: 96.61 / 96.98

    H1 chart's support levels: 96.03 / 95.44

    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 seen at 96.03, take profit is at 95.44, and stop loss is at 96.61.


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