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20.08.2017 10:18 PM
Daily analysis of USDX for August 21, 2017

The index had a bearish journey on Friday and remains supported by the 93.28 level. Overall, the greenback is hovering around the 200 SMA at H1 chart and it's looking for a clear path in the short term. However, as long as it doesn't form any other lower low pattern, USDX could rally to test the resistance level of 94.11.

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H1 chart's resistance levels: 93.72 / 94.11

H1 chart's support levels: 93.28 / 92.97

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 93.72, take profit is at 94.11 and stop loss is found at 93.33.

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