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23.10.2014 02:30 AM
Daily analysis of USDX for October 23, 2014

The USDX has been consolidated over the bearish trend line located at the level of 85.40, because this instrument had a bullish momentum yesterday during the session. The next target in the bullish road will be the resistance level of 86.01. In the H4 chart, the MACD remains in positive territory.

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H4chart's resistance levels: 86.01 / 86.75

H4chart's support levels: 85.06 / 84.52


In the H1 chart, the USDX is trying to make a breakout at the level of 85.73, so this instrument could rise to the level of 85.95. In this chart, the USDX has consolidated above the 200-day moving average and the MACD indicator is entering neutral territory.

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H1 chart's resistance levels: 85.95 / 86.17

H1 chart's support levels: 85.73 / 85.49

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 85.95, take profit is at 86.17, and stop loss is at 85.73. 

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