InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 15, 2016

    The Index remains strong, and during yesterday's session it did a rebound above the 200 SMA on the H1 chart, pushing it higher. Today the Fed interest rate decision will be announced, and if a hike happens, USDX can look to break the resistance above the 95.19 level, which should be the next critical level for another rally to the 95.65 level. The MACD indicator is reaching overbought conditions in this timeframe.

    USDXH1.png

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    H1 chart's resistance levels: 95.19 / 95.65

    H1 chart's support levels: 94.68 / 94.30

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.19, take profit is at 95.65, and stop loss is at 94.72.


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