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28.11.201622:16 Forex Analysis & Reviews: Daily analysis of USDX for November 29, 2016

Long-term review

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USDX found once again a dynamic support at the 200 SMA at H1 chart, which should provide some bullish momentum in the meantime. The resistance zone of 101.74 remains firm and as long as the index continues to move below that area, we can expect further weakness towards the 100.53 level, which is a key demand zone across the board.

H1 chart's resistance levels: 101.74 / 102.61

H1 chart's support levels: 100.53 / 99.39

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 101.74, take profit is at 102.61 and stop loss is at 100.87.

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