Daily analysis of USDX for December 29, 2015

On the H1 chart, the USDX remains finding support at the level of 97.86, which is a key zone for buyers on a short-term basis. However, if the index achieves in breaking that zone to the downside, then the bearish bias
will strengthen eventually reaching the level of 97.00.

USDXH1.png

H1 chart’s resistance
levels: 98.14 / 98.66

H1 chart’s support levels: 97.86
/ 97.66

Trading recommendations for today:
Based on the H1 chart, place
sell
(short)
orders only if the USDX breaks with
a bearish
candlestick;
the support
level is found at
97.86,
take profit is at
97.66,
and stop loss is at 98.05.

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

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