Daily analysis of USDX for September 12, 2017

USDX is extending the recovery from September 8th lows and is looking forward to testing the 200 SMA on H1 chart. There are no new lower low patterns and we can expect a short-lived consolidation above the moving average mentioned. That's why we can't discard a rally to test the resistance level of 93.09.


H1 chart's resistance levels: 93.09 / 94.04

H1 chart's support levels: 91.67 / 90.30

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 91.67, take profit is at 90.30 and stop loss is at 93.04.

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