Daily analysis of USDX for December 28, 2017

USDX has been making a breakout of the support zone of 93.30 and looks forward to testing the 92.83 level. The 200 SMA continues to giving dynamic resistance across the board and it looks like we can expect a lower greenback at the end of the year. However, if it manages to make a rebound, then the next path should be pointing to test the 94.09 level.

USDXH1.png

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.

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