Daily analysis of USDX for August 14, 2017

USDX was smashed during Friday’s session amid geopolitical concerns and Fed speakers’ dovish rhetoric. So far, the index has stayed above the support level of 92.80 and it’s still looking to ride the bullish structure in the short-term. If it manages to break above 93.23, then we might expect a rally continuation towards 93.75.

H1 chart’s resistance levels: 93.23 / 93.75

H1 chart’s support levels: 92.80 / 92.48

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD index breaks a bullish candlestick; the resistance level is at 93.23, take profit is at 93.75 and stop loss is at 92.72.

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

Source:: Daily analysis of USDX for August 14, 2017