Daily analysis of USDX for July 11, 2017

USDX was unchanged during Monday and it's looking to break above the resistance zone of 96.24, where it's also located the 200 SMA at H1 chart. If that happens, we might expect further gains to take place towards 96.77. To the downside, the nearest support is located around 95.77 and a break below it should expose the 95.10 level.


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