InstaForex - Analytics

    InstaForex

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    Technical analysis of USDX for June 22, 2016

    The Dollar index made a double bottom around the 93.35 area and bounced towards 94. The trend remains bearish for the short term after the bearish reversal we saw last week. An important resistance and trend change level is at 94.70.

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    The UK referendum will certainly affect the price and rate expectations for the US. Volatility is expected to spike, and we expect to see big swings in prices. It is hard to predict the outcome of the referendum and thus what the index will do thereafter. Therefore, we prefer to stay neutral and in cash.

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