Daily analysis of USDX for June 10, 2015 Market Analysis Review

The USDX is currently trading above the support level of 94.66 and there is a strong fight between bears and bulls, because the Index could do a rebound at current levels. Thanks to a possible bullish momentum, which could give that support zone mentioned above. The MACD indicator is in the negative territory.

There are no major changes in the short-term outlook for the USDX, but the Index is still moving above the support level of 95.15, a zone which rejected the US Dollar Index during yesterday's session. Currently, we should expect a rise towards the resistance level of 95.71 and a breakout could happen there in coming hours.

Daily chart's resistance levels: 95.74 / 96.97

Daily chart's support levels: 94.66 / 93.75

H1 chart's resistance levels: 95.71 / 96.16

H1 chart's support levels: 95.15 / 94.63

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level isseen at 95.71, take profit is at 96.16, and stop loss is at 96.32.

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

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