Daily analysis of USDX for December 24, 2015 Market Analysis Review

On H1 chart, USDX is finding strong support at the 98.14 level, where a rebound is expected to re-test the resistance level of 98.66. We should remind you that a higher rally is expected to try a bullish consolidation ahead of the New Year Eve. However, if the index manages to break the 98.14 level, then it's possible to do a decline towards the 97.86 level. MACD indicator is entering the neutral territory.

H1 chart's resistance levels: 98.66 / 99.19

H1 chart's support levels: 98.14 / 97.16

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 98.66, take profit is at 99.19, and stop loss is at 98.14.

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