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23.02.2017 10:16 PM
Daily analysis of USDX for February 24, 2017

The index is finding dynamic support around the 200 SMA on the H1 chart, following a bearish momentum received during Thursday's session. If the USDX manages to break yesterday's lows, then it can test the 100.44 level, where a breakout should deliver more bears to test the 99.84 level. The MACD indicator is reaching oversold conditions, which should be the next step to resume the bullish bias soon.

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H1 chart's resistance levels: 101.43 / 102.38

H1 chart's support levels: 100.44 / 99.84

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 100.44, take profit is at 99.84 and stop loss is at 101.06.

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