Daily analysis of USDX for June 06, 2017

USDXH1.png

USDX remained supported on Monday, as the momentum wasn’t enough to
allow a breakout below the 96.73 level. That zone is the last hurdle
before the 96.25 demand zone, while a rebound should produce another
test of the 200 SMA at H1 chart. However, our immediate resistance is
projected around 97.41. MACD indicator is turning flat, favoring a
sideways market in a short-term basis.

H1 chart’s resistance
levels: 97.41 / 98.11

H1 chart’s support levels: 96.73
/ 96.25

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
96.73,
take profit is at
96.25
and stop loss is at 97.22.

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

Source:: Daily analysis of USDX for June 06, 2017

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