Forex Analysis: 20 Apr 2017, 17:43 UTC+00

Daily analysis of USDX for April 21, 2017

USDX is now taking a rest in the downside following a very bearish week. Currently, the support zone of 99.48 is acting as a strong barrier for sellers, but if that level gives up, we can expect another decline to test the 99.17 level across the board. However, a recovery isn't discarded at this stage and one breakout above 99.97 should open the doors for 100.54.

USDXH1.png

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H1 chart's resistance levels: 99.97 / 100.54

H1 chart's support levels: 99.48 / 99.17

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 99.48, take profit is at 99.17 and stop loss is at 99.79.


Performed by
analytical expert: Felipe Erazo
InstaForex Group © 2007-2017
 Published: 20 Apr 2017, 17:43 UTC+00

 
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