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29.03.201623:22 Forex Analysis & Reviews: Daily analysis of USDX for March 30, 2016

Long-term review

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On the H1 chart, USDX had a strong decline during the last hours and the Index may find strong support around the 95.12 level on a short-term basis. Over that zone, we can expect a rebound that corrects the decline held during Tuesday's session, but in the downside, the target is still placed around the 94.85 level. The MACD indicator is supporting this idea, moving on the negative territory.

H1 chart's resistance levels: 95.44 / 96.03

H1 chart's support levels: 95.12 / 94.85

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 95.12, take profit is at 94.85, and stop loss is at 95.40.

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