Daily analysis of USDX for December 25, 2017

The index is being supported by the 93.30 level in the short-term, as the 200 SMA is still above the current price. USDX is expected to do another leg lower during the coming days, but with no significant moves underway that could unleash volatility, as the markets are on holidays in most of the countries. If it manages to break below 93.30, then the next target would be the 92.83 level.


H1 chart's resistance levels: 94.09 / 94.85

H1 chart's support levels: 93.30 / 92.83

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 93.30, take profit is at 92.83 and stop loss is at 93.76.

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