Daily analysis of USDX for June 09, 2017

USDXH1.png

The index gained momentum during Thursday’s session and it’s
challenging the strong resistance placed around 96.93, which is the
last hurdle ahead of 97.41. Once USDX manages to consolidate above
the 200 SMA at H1 chart, then it can go for higher levels and
eventually for the psychological zone of 98.00. To the downside,
we’re still expecting a pullback towards 96.53.

H1 chart’s resistance
levels: 96.93 / 97.41

H1 chart’s support levels: 96.53
/ 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
96.53,
take profit is at
96.25
and stop loss is at 97.21.

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

Source:: Daily analysis of USDX for June 09, 2017

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