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28.03.201722:23 Forex Analysis & Reviews: Daily analysis of USDX for March 29, 2017

Long-term review

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The index recovered during yesterday's session, as it found strong support around 99.00. Currently, USDX is challenging the 200 SMA at H1 chart close to the 100.00 psychological area. If it manages to break above that zone, then it's likely to see a rally towards 100.36 in a first degree. MACD indicator is reaching the positive territory, calling for more bullish moves in the short-term.

H1 chart's resistance levels: 99.80 / 100.36

H1 chart's support levels: 98.98 / 98.29

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 98.98, take profit is at 98.29 and stop loss is at 99.66.

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