FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

Prospects for the USDX dollar index based on technical analysis of the Forex currency market. The basis of the trading system is support and resistance levels, RSI and AO indicators.

We have moved to trading in a wide range and are now heading toward its lower boundary. The index has tested the resistance level and is now trying to test the support level. Now let’s see what the indicators say for the next 24 hours. The index has gone down quite well, easily reached the target and reversed. The chart shows that the index tested the 100.95 level and is now trading at 100.88. RSI is moving in the middle of the range and is uncertainly looking downward, AO is showing a weak buy signal, and the index price is within the previous day’s trading range. The signals are flat, but there is a chance of a very small decline. Therefore, we can assume that the index will test the 100.65 support level. Based on the analysis, cautious selling down to 100.70 is recommended. However, remember that the market can be subject to sudden changes, so carefully assess your risks.