Technical analysis of USDX for May 16, 2018

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This is the USD Index after making a Double Top Formation on the 4-hour chart (see the red circle). Now it is going to test the support level at 92.23 or at near the Exponential Moving Average periode 62. As long as the price correction is not more then 91.73, there is a high probability the price will be back to the upside again at the previous resistance at 93.46 level.

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

Source:: Technical analysis of USDX for May 16, 2018

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