26.12.201601:55 Forex Analysis & Reviews: Daily analysis of USDX for December 26, 2016

Long-term review

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USDX still remains well supported above the 200 SMA at H1 chart, as the demand zone of 102.56 continues to provide strong bottom across the board. The index is looking for a significative catalyst in order to crawl up or plunge, whichever could be the path, but the odds are still calling for more upside moves and next resistance is placed at the 103.98 level.

H1 chart's resistance levels: 103.98 / 104.69

H1 chart's support levels: 102.56 / 101.40

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 103.98, take profit is at 104.69 and stop loss is at 103.26.

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