Daily analysis of USDX for December 16, 2014
The USDX is moving in the zone below the resistance area of 88.63 on the daily chart. However, the USDX is still remain in the bullish bias, since the 200-day moving average is trying to turn upward and this instrument has not been strengthen below the support area of 87.35. The MACD indicator stays in negative zone.
Daily chart’s resistance levels: 88.63 / 90.40
Daily chart’s support levels: 87.35 / 86.20
On the H1 chart, the USDX set up strong resistance at the 200-day moving average, so the USDX is trying to combine above that stage to strengthen the bullish movement. If the USDX does a breakout at the 88.43 level, it is probable to rise to the resistance area of 88.71 in the short-term. The MACD indicator is moving into negative zone.
H1 chart’s resistance levels: 88.43 / 88.71
H1 chart’s support levels: 88.15 / 87.86