Daily analysis of USDX for September 29, 2017

The index is in a decisive stage where bulls could decide the next path or bears could take control of the situation. The support level of 93.09 still remains as a critical level ahead of the 200 SMA as dynamic support as well. To the upside, if USDX breaks above 94.04, bulls could be consolidating in the short-term.

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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