Daily analysis of USDX for September 13, 2017

There are no major moves ongoing in the US Dollar Index, as it remains capped by the 200 SMA on H1 chart. As long as the index stays below that indicator, one should expect a leg lower to test September 8th lows, near 91.00. To the upside, the dynamic resistance of the 200 SMA is the first hurdle to overcome, ahead of the resistance level of 93.09.

USDXH1.png

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