InstaForex - Analytics

    InstaForex

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    Daily analysis of USDX for June 22, 2016

    On the H1 chart, USDX is still moving into a bullish bias above the support level of 93.43, which remains solid into a week of uncertainty because of the Brexit referendum. The Index is close to the 200 SMA price zone, where a pullback should happen technically to resume the overall bearish trend. However, if USDX does a breakout above the 94.07 level, then it can rally towards the 94.54 level.

    USDXH1.png

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    H1 chart's resistance levels: 94.07 / 94.54

    H1 chart's support levels: 93.82 / 93.43

    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 94.07, take profit is at 94.54, and stop loss is at 93.61.


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