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18.09.201721:27 Forex Analysis & Reviews: Daily analysis of USDX for September 19, 2017

Long-term review

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The index still holds the support zone of 91.57 and bulls are trying to gain momentum in order to take the greenback to test the resistance level of 93.09. However, it remains below the 200 SMA on H1 chart and that's why the weakness in the USDX remains as a strong bias in the short term. To the downside, a support can be seen around 90.30.

H1 chart's resistance levels: 93.09 / 94.04

H1 chart's support levels: 91.67 / 90.30

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 91.67, take profit is at 90.30 and stop loss is at 93.04.

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