Daily analysis of USDX for January 02, 2018

USDX remains under pressure below the 200 SMA on H1 chart. The index still finds support around 92.18. The new year kicks with a greenback's weakness across the board. That tone should prevail for at least several weeks, as the index starts to do a decisive corrective move. If it manages to break above 92.57, then it can go towards the 93.16 level.

USDXH1.png

H1 chart's resistance levels: 92.57 / 93.16

H1 chart's support levels: 92.18 / 91.68

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 92.18, take profit is at 91.68 and stop loss is at 92.68.

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