Daily analysis of USDX for August 10, 2017

USDX is consolidated above the 200 SMA at H1 chart and looks forward to the resistance level of 94.00, which is a key psychological zone. If a breakout happens over there, then we might expect further advances in the index towards the 94.47 level. If a pullback happens at the current stage, one could expect a dynamic support in the 200 SMA.

1502302857_USDXH1.png

H1 chart's resistance levels: 94.00 / 94.47

H1 chart's support levels: 93.25 / 92.80

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.00, take profit is at 94.47 and stop loss is at 93.55.

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