Daily analysis of USDX for December 01, 2016

USDX remains capped by the resistance level of 101.74, as the bullish
force is weakening in an overall view. However, there are still
chances to see a hike above that resistance and if that happens, we
can expect further gains toward the 102.61 level. However, if 200 SMA
dynamic support gives up, a decline should take the index to test the
100.53 level.

USDXH1.png

H1 chart’s resistance
levels: 101.74 / 102.61

H1 chart’s support levels:
100.53 / 99.39

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
101.74,
take profit is at
102.61
and stop loss is at 100.87.

The material has been provided by InstaForex Company – www.instaforex.com

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