InstaForex - Analytics

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    Daily analysis of USDX for June 14, 2016

    USDX posted some losses during yesterday's session, as it found resistance around the 94.68 level. Currently, the Index is hovering in the 200 SMA price zone on the H1 chart, supported by the 94.30 level. If USDX does a breakout below it, then we could expect a decline toward the 93.89 level, which should be a sign of a bearish bias' resume.

    USDXH1.png

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    H1 chart's resistance levels: 94.68 / 95.19

    H1 chart's support levels: 94.30 / 93.89

    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 94.30, take profit is at 93.89, and stop loss is at 94.72.


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