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14.12.2017 08:12 PM
Daily analysis of USDX for December 15, 2017

The index is forming a lower low pattern following the Fed's interest rate decision to hike by 25 basis points during December's meeting. So far, USDX remains supported by the 93.30 level, at which a breakout should expose the 92.83 level. However, the risk to the upside remains in place and once could expect some rebounds in order to test December 12th highs.

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H1 chart's resistance levels: 94.09 / 94.85

H1 chart's support levels: 93.30 / 92.83

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 93.30, take profit is at 92.83 and stop loss is at 93.76.

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