Daily analysis of USDX for May 24, 2017

The index is trying to recover from its recent losses and it’s
testing now the resistance zone of 97.41. A breakout over there can
open the doors for another rally towards the 98.11 area, which is
slightly above the 200 SMA. To the downside, the support level of
96.90 continues to be a solid demand area, which should give up for a
decline to test the 96.25 level.

H1 chart’s resistance
levels: 97.41 / 98.11

H1 chart’s support levels: 96.90
/ 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
96.90,
take profit is at
96.25
and stop loss is at 97.56.

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

Source:: Daily analysis of USDX for May 24, 2017