Daily analysis of USDX for November 13, 2017

The index trimmed gains during Friday's session and it continued to extend the decline below the 200 SMA at the H1 chart. The next support is located at the 93.97 level, where bears could gather momentum to continue on the path in the short-term. However, if it manages to break above the moving average, then it can reach the resistance level of 95.14.


H1 chart's resistance levels: 95.14 / 95.85

H1 chart's support levels: 94.60 / 93.97

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 95.14, take profit is at 95.85 and stop loss is at 94.47.

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