17.07.201704:48 Forex Analysis & Reviews: Daily analysis of USDX for July 17, 2017

Long-term review

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USDX remains offered and it looks like the downside breakout should come in the next days. The support zone of 95.10 is helping to cap further bearish advance and if we witness a break below there, then another selling wave could impact the greenback to test the 94.16 level. MACD indicator is entering the oversold territory, calling for some rebounds.

H1 chart's resistance levels: 95.57 / 96.24

H1 chart's support levels: 95.10 / 94.16

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 95.10, take profit is at 94.16 and stop loss is at 96.05.

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