InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 20, 2016

    On the H1 chart, USDX pulled back from last week's highs, and now it's poised to test the support zone of the 94.07 level. However, the current outlook is telling us that a possible demand zone would remain active at this stage, and it can push the Index higher towards the 94.68 level, which is above the 200 SMA. The MACD indicator is in negative territory.

    USDXH1.png

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    H1 chart's resistance levels: 94.30 / 94.68

    H1 chart's support levels: 94.07 / 93.82

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


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