InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 10, 2016 2016-06-09

    USDX made a rebound from the support zone of 93.50, and we should note that a breakout above the 93.89 level will put the Index inside a sideways range which should extend until the end of the week at least. Eventually, it may test the 200 SMA on H1 chart, where there is the last chance for sellers to resume the bearish trend.

    USDXH1.png

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    H1 chart's resistance levels: 94.30 / 94.63

    H1 chart's support levels: 93.89 / 93.50

    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 93.89, take profit is at 93.50, and stop loss is at 94.28.


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