07.06.201721:29 Forex Analysis & Reviews: Daily analysis of USDX for June 08, 2017

Long-term review

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USDX continues to be supported by the 96.53 level and that's why bears cannot advance in the current structure. If that level gives up, we can witness an acceleration towards 96.25 in a first degree, as the US Dollar remains weak across the markets. To the upside, the 200 SMA at the H1 chart is the immediate resistance.

H1 chart's resistance levels: 96.93 / 97.41

H1 chart's support levels: 96.53 / 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 96.53, take profit is at 96.25 and stop loss is at 97.21.

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