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26.08.201600:01 Forex Analysis & Reviews: Daily analysis of USDX for August 26, 2016

Long-term review

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Thursday's session for USDX was pretty calm in terms of price action, as the index remains below the 200 SMA at H1 chart. A support can be seen around the 94.65 level, where a breakout can deliver a bearish momentum towards the 94.32 level. However, a rebound shall not be discarded and eventually it can attempt a short-term rally to the 95.00 level.

H1 chart's resistance levels: 95.00 / 95.49

H1 chart's support levels: 94.65 / 94.32

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 94.65, take profit is at 94.32 and stop loss is at 94.99.

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