The index is rallying above the 200 SMA on the H1 chart and the focus is
placed at the 95.79 level, which is the last hurdle standing before the 96.00 psychological zone. With that being said, we’re seeing that the USDX is trapped inside a sideways range, but a breakout
above the 96.23 level should invalidate that pattern.

USDXH1.png

H1 chart’s resistance
levels: 95.79 / 96.23

H1 chart’s support levels: 95.49
/ 95.02

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
95.49,
take profit is at
95.02
and stop loss is at 95.97.

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

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