Korora
Short

Daily analysis of USDX for May 25, 2017

TVC:DXY   U.S. Dollar Currency Index
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USDX was capped by the resistance level of 97.41, as it remained in a sideways range during Wednesday's session. A pullback happened after the FOMC minutes were released and made the greenback to resume the bearish bias. The critical level is still placed at 96.90, where a breakout should deliver more bears' power toward the 96.25 level.

H1 chart's resistance levels: 97.41 / 98.11
H1 chart's support levels: 96.90 / 96.25

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick ; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.

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