Daily Analysis of USDX for May 27, 2016
The USDX traded in a bearish tone during Thursday's session, but currently we should note that the Index is hovering around the 200 SMA area on the H1 chart. If the USDX does a rebound at the current levels, then it could resume the bullish bias to reach new highs above the 96.00 level after a breakout at the resistance level of 95.68 is done.
H1 chart's resistance levels: 95.22 / 95.68
H1 chart's support levels: 94.89 / 94.62
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 95.22, take profit is at 95.68, and stop loss is at 94.77.