Daily analysis of USDX for August 25, 2016

USDX is finding resistance at the 200 SMA price zone in an effort to
reach the 95.00 psychological level. This stage is key for the current
trend’s development, as the index can break that level in order to
extend the rally towards the 95.49 level. On the other hand, if USDX pulls back, it can test the 94.32 level again.

USDXH1.png

H1 chart’s resistance
levels: 95.00 / 95.49

H1 chart’s support levels: 94.65
/ 94.32

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
94.65,
take profit lies at
94.32
and stop loss is at 94.99.

The material has been provided by InstaForex Company – www.instaforex.com

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