The USDX has made again a breakout at the level of 88.63 in an attempt to reach the resistance level of 90.40 in the medium term. To make the USDX reach that level, it would be necessary to begin to form a higher high pattern above the support level of 88.63. The MACD
indicator is entering neutral territory.
resistance levels: 90.40 / 93.44
levels: 88.63 / 87.35
On the H1 chart, the USDX has managed
to stay above the 200-day moving average, because this instrument is
forming a bullish pattern above the support level of 88.99. On the
upside road, the USDX would be facing the resistance levels of
89.25 and 89.51. On the other hand, a pullback at tghe current levels
could lead to USDX to touch the support level of 88.71.
H1 chart’s resistance levels:
89.25 / 89.51
H1 chart’s support levels:
88.99 / 88.71
Trading recommendations for today:
Based on the H1 chart, place
orders only if the USD Index
a bullish candlestick;
level is at 89.25,
take profit is at
and stop loss is at 89.00.
The material has been provided by InstaForex Company – www.instaforex.com