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24.05.201721:44 Forex Analysis & Reviews: Daily analysis of USDX for May 23, 2017

Long-term review

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USDX continues to show weakness in the market, as the support zone of 96.90 has been reached during Monday's session. That's the last hurdle before testing the next key area of 96.25. There are no signs of a further trend change in the short term, but we cannot discard a rebound towards the 97.41 level yet, as the MACD aims to enter the positive territory.

H1 chart's resistance levels: 97.41 / 98.11

H1 chart's support levels: 96.90 / 96.25

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 96.90, take profit is at 96.25 and stop loss is at 97.56.

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