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    Daily analysis of USDX for March 16, 2016 2016-03-15

    USDX is extending the corrective bullish move towards the 200 SMA zone at the H1 chart, which is very close to the resistance level of 96.98. A pullback can happen to reach new lows, but before that, we need to see first a breakout of the support level of 96.03. Currently, the bias is showing a slow tone on the Index.


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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 USD Index breaks with a bearish candlestick; the support level is at 96.03, take profit is at 95.44, and stop loss is at 96.61.

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