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29.08.201621:52 Forex Analysis & Reviews: Daily analysis of USDX for August 30, 2016

Long-term review

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The greenback started to retreat during Monday's session, following last Friday's gains obtained thanks to Yellen's speech. Currently, a breakout above the resistance zone of 95.79 should expose the index to the the next key interest area for sellers at the 96.14 level. If the correction on the USDX goes deeper, then it can decline to the 95.00 level which coincides with the 200 SMA.

H1 chart's resistance levels: 95.79 / 96.14

H1 chart's support levels: 95.49 / 95.00

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 95.79, take profit lies at 96.14 and stop loss is at 95.45.

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