Daily analysis of USDX for October 13, 2017

USDX continues to strengthen the bearish bias on a short-term basis, but still remains supported by the psychological level of 93.00. If that zone gives in to the bears' force, the index could look to extend the downside towards the 91.67 level. However, if it manages to rebound, focus should be shifted to the resistance zone of 94.04.

USDXH1.png

H1 chart's resistance levels: 94.04 / 94.58

H1 chart's support levels: 93.00 / 91.67

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 94.04, take profit is at 94.58 and stop loss is at 93.50.

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