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16.09.2015 01:12 AM
Daily analysis of USDX for September 16, 2015

On the daily chart, the USDX has been trading above the support level of 95.26, after a bullish momentum gained during yesterday's session. Ahead of the Fed's decision on ots interest rate hike, we should expect moves between the 95.83 and 95.26.

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The USDX is currently facing strong resistance around the level of 95.65 where the 200 SMA is located in the H1 chart. We should expect a pullback over there and then the Index could fall again until at least 95.41. Consolidation below that zone will open doors to a test at 95.20 during coming hours.

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Daily chart's resistance levels: 96.64 / 97.23

Daily chart's support levels: 95.83 / 95.26

H1 chart's resistance levels: 95.65 / 95.83

H1 chart's support levels: 95.41 / 95.20

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US Dollar Index breaks with a bearish candlestick; the support level is at 95.41, take profit is at 95.20, and stop loss is at 95.61.

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