Daily Analysis of USDX for March 29, 2016
USDX is currently doing a pullback from yesterday's highs, as the Index is still doing some corrective moves in favor of the overall bearish bias. The next target is located around the 95.44 level, where the Index can test that zone in order to strengthen the downside. However, a rebound at the current stage cannot be discarded yet.
H1 chart's resistance levels: 96.70 / 97.04
H1 chart's support levels: 96.03 / 95.44
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 96.03, take profit is at 95.44, and stop loss is at 96.60.
The material has been provided by InstaForex Company - www.instaforex.com