Daily analysis of USDX for January 26, 2018 25.01.2018

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The broad-based weakness in the US Dollar Index continues to dominate the overall picture across the board, as the index is making a breakout of the support level at 89.36. Currently, USDX is on the way to test the next support which lies at 87.88. If a rebound happens in the current area, then the next target to the upside would be the 90.00 level.

Exchange Rates 25.01.2018 analysis

H1 chart’s resistance levels: 90.63 / 91.75

H1 chart’s support levels: 89.36 / 87.88

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 89.36, take profit is at 87.88 and stop loss is at 90.81.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Felipe Erazo,
Analytical expert
InstaForex Group © 2007-2018

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