Daily Analysis of USDX for July 01, 2016

Daily Analysis of USDX for July 01, 2016

1 July 2016, 10:05
Roberto Jacobs
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Daily Analysis of USDX for July 01, 2016

On the H1 chart, the USDX is trying to extend the rally above the 200 SMA, but the support level could be challenged within the next few hours, as the US NFP is coming. A breakout above the 96.60 level will open the doors to test the 97.52 price zone, as the Index keeps trading strongly in a bullish tone, at least on a short-term basis.


1467324243_USDXH1.png


H1 chart's resistance levels: 96.60 / 97.52

H1 chart's support levels: 95.89 / 95.20

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 96.60, take profit is at 97.52, and stop loss is at 95.67.


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