Daily Analysis of USDX for March 18, 2016
The Index is currently working on performing a breakout below the support zone of 94.69, in order to extend the decline towards the 93.89 level, after a strong bearish move was seen during yesterday's session. However, if the USDX makes a rebound at current levels, then we can expect another rally towards the 95.44 level.
H1 chart's resistance levels: 95.44 / 96.03
H1 chart's support levels: 94.69 / 93.89
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.69, take profit is at 93.89, and stop loss is at 96.19.
The material has been provided by InstaForex Company - www.instaforex.com
