InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 17, 2016

    USDX is being supported by the 200 SMA on the H1 chart, after it did a strong pullback around the 95.19 level, where it erased the gains made during yesterday's morning session. The Index's overall view remains bullish, as the major supports on an intraday basis are still in place. However, a downside continuation towards the 94.30 level cannot be discarded.

    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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