Daily analysis of USDX for March 20, 2017

The bearish bias in USDX still remains alive in the short-term, as the support zone of 100.15 could be broken in coming hours. If the index does a breakout below the 100.15 level, then we can expect a testing of the 99.66 level. Overall, USDX is following the bearish trend well consolidated below the 200 SMA on H1 chart.

USDXH1.png

H1 chart’s resistance levels: 100.64 / 101.16

H1 chart’s support levels: 100.15 / 99.66

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 100.15, take profit is at 99.66 and stop loss is at 100.64.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Forex Review