Daily analysis of USDX for January 03, 2018

The index managed to break lower and weakened during the Asian and European sessions of Tuesday. The nearest support lies at 91.68, at which we could expect some take profits to activate. Such index should help to boost the USDX in order to re-test the new resistance level of 92.18. The MACD indicator remains in favor of the bears.

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