Daily Analysis of USDX for June 30, 2016
USDX is looking to extend the decline towards the support level of 95.20, where the 200 SMA is located; a zone where a rebound can happen to resume the bullish bias on a short-term basis. The index will try to break the resistance level of 95.89, looking to test the 96.60 level on a short-term basis, in order to strength the bullish bias.
H1 chart's resistance levels: 95.89 / 96.60
H1 chart's support levels: 95.20 / 94.59
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 95.89, take profit is at 96.60, and stop loss is at 95.19.
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