InstaForex - Analytics

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    Daily analysis of USDX for June 23, 2016

    The index declines ahead of Brexit referendum in the UK. Currently, we can find a support around the 93.43 level, which is a major bottom for the USDX. Overall scenario remains in sideways, and 200 SMA can push lower to test that support mentioned above and then decline towards the 93.02 level. However, a bullish scenario is calling for a breakout of the 94.07 level in order to reach the 94.50 price zone.

    USDXH1.png

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    H1 chart's resistance levels: 93.82 / 94.07

    H1 chart's support levels: 93.43 / 93.02

    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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