Daily analysis of USDX for January 10, 2018

USDXH1.png

USDX had a consolidation above the support level of 92.25 following a momentum gained by the bulls across the board. The index is now facing the resistance zone of 92.57, at which we can expect a breakout in order to allow more gains towards the psychological level of 93.00. To the downside, if it manages to consolidate below 92.25, the next target should be the 91.68 level.

H1 chart’s resistance levels: 92.57 / 93.00

H1 chart’s support levels: 92.25 / 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 92.25, take profit is at 91.68 and stop loss is at 92.83.

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

Source:: Daily analysis of USDX for January 10, 2018

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