Daily analysis of USDX for September 14, 2017

USDX was favored during Wednesday's session by the headlines of a U.S. tax plan to be revealed soon and it helped the greenback to recover positions against its major competitors. Currently, the index is consolidating above the 200 SMA and looks forward to the resistance zone of 93.09. MACD indicator is favoring to that scenario, as it remains on the positive territory.


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