Daily analysis of USDX for August 22, 2017

USDX remains weak and bears took were in control during the Monday's session. Currently, the index is piercing the support zone of 93.28 and is looking to test the next bottom around 92.97. However, overall structure is choppy and we would prefer to stay on hold until the index does a significant break of the range that had been established earlier.


H1 chart's resistance levels: 93.72 / 94.11

H1 chart's support levels: 93.28 / 92.97

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 93.72, take profit is found at 94.11 and stop loss lies at 93.33.

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