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12.06.201506:05 Forex Analysis & Reviews: Technical analysis of USDX for June 12, 2015

Long-term review

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USDX

The recent retail sales data shows the US economy is expanding in a steady pace. This data may improve a stance on the interest rate hike. But data is unable to produce strong upticks in the US dollar. The rise in the retail sales was mainly boosted by changes in jobs number. Report on jobless claims produced an uptick of1000.

At yesterday's session, the USDX and USD related pairs lost a half of the intraday gains wiped on. Intraday support is fond at 94.85 and 94.30. Resistance is seen at 95.10 and 95.25. The USDX and the USD/CAD H1 charts look similar. In case the hourly candle closes above 95.60, bulls will drive towards 96.00 and 96.50 initially, and to 97.00 later. On the downside below 94.80, bears are likely to aim at a new low at 93.50 within support at 94.30.

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