InstaForex - Analytics

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    Daily analysis of USDX for June 21, 2016

    USDX is finding a strong support around the 93.43 level on H1 chart, where we're currently seeing a possible double bottom pattern. That would put us into a possible bullish scenario for coming days, at least to attempt to break the resistance level of 94.07. However, if the index does a consolidation below the 93.43 level, then it can test the 93.00 psychological level.

    USDXH1.png

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    H1 chart's resistance levels: 93.82 / 94.07

    H1 chart's support levels: 93.43 / 93.00

    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 93.82, take profit is at 94.07, and stop loss is at 93.56.


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