InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for March 31, 2016 2016-03-31

    The USDX is still showing weakness. It has been performing some declines during today's session and now we can see that a support was found around the 94.40 level. If a breakout happens below this level, then we can expect another push lower towards the 93.95 level. However, a rebound can happen until the resistance zone of 94.85 level.

    USDXH1.png

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    H1 chart's resistance levels: 94.85 / 95.12

    H1 chart's support levels: 94.40 / 93.95

    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 94.40, take profit is at 93.95, and stop loss is at 94.85.


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