InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 16, 2016

    On the H1 chart, USDX had some declines after the Federal Reserve decided to leave interest rates unchanged this month, and the market reacted with a drop of the US Dollar. However, Yellen's words offered some support to the Index, and it keeps trading above the 200 SMA. If USDX manages to break the 94.68 level again, then it could rally toward the 95.19 level.

    USDXH1.png

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    H1 chart's resistance levels: 94.68 / 95.19

    H1 chart's support levels: 94.30 / 94.07

    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 94.68, take profit is at 95.19, and stop loss is at 94.16.


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