Daily analysis of USDX for July 05, 2017

USDX had a comatose tone during Tuesday amid thin liquidity in the markets as the U.S holidays are dominating the scenario. The 200 SMA is close to the current price area and if that moving average gives up, then we might expect a continuation towards 96.77. To the downside, the target is still placed at the 95.77 level.

USDXH1.png

H1 chart's resistance levels: 96.77 / 97.20

H1 chart's support levels: 96.38 / 95.77

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 95.77, take profit is at 95.10 and stop loss is at 96.42.

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