12.07.201721:27 Forex Analysis & Reviews: Daily analysis of USDX for July 13, 2017

Long-term review

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USDX continues to ride the bearish side and the consolidation below the 200 SMA at H1 chart still prevails. To the downside, we might expect a testing of the 95.10 level, but we would need to wait for a confirmation from the MACD indicator, which is still in the positive territory. In the bullish path, closest resistance is placed in the 200 SMA zone.

H1 chart's resistance levels: 96.77 / 97.20

H1 chart's support levels: 96.38 / 95.77

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 95.77, take profit is at 95.10 and stop loss is at 96.42.

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