Daily analysis of USDX for March 08, 2018

USDX is hovering around the support zone of 89.36 at which the bulls could gather momentum in order to push higher towards the resistance zone of 90.63. If a breakout happens over there, the greenback could gain ground to test the resistance level of 91.75, while a pullback should take it to test the 87.88 level.

H1 chart’s resistance levels: 90.63 / 91.75

H1 chart’s support levels: 89.36 / 87.88

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 89.36, take profit is at 87.88 and stop loss is at 90.81.

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