Daily analysis of USDX for October 17, 2017

USDX is dealing with the dynamic resistance offered by the H1 chart and it can help to make a pullback in the index and to resume the bearish bias across the board. With a bearish continuation, USDX might be looking for the next critical support lying at the 91.67 level. MACD indicator is temporarily supporting the bearish price action.


H1 chart's resistance levels: 93.35 / 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 93.35, take profit is at 94.58 and stop loss is at 92.66.

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