InstaForex - Analytics

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    Daily analysis of USDX for April 04, 2016 2016-04-04

    According to the H1 chart, the USDX is still showing a sideways structure above the support level of 94.40, where we can see that buyers' active zone is highly active and trying to push higher to the Index. However, as long as it stays below the 200 SMA in this time frame, we can expect a decline towards the 93.95 level. The MACD indicator is in negative territory.

    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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