On the daily chart, the USDX remains strong in the current bullish momentum. So, this instrument is likely to reach the resistance level of 90.40 in the coming hours. For now, the USDX could begin to form a higher high pattern to attempt a breakout in that area and go
up to the next target at 93.44 in the medium term.
resistance levels: 90.40 / 93.44
levels: 88.63 / 87.35
The USDX has been moving in a range
above the support level of 90.01 in the last hours, but this
instrument has not yet shown signs of making a change in the current
trend. So, it is wise to think that the USDX should be kept strong in the
bullish trend, at least in the short term. The MACD indicator is in
the negative territory.
H1 chart’s resistance levels:
90.26 / 90.50
H1 chart’s support levels:
90.01 / 89.76
Trading recommendations for today:
Based on the H1 chart, place
orders only if the USD Index
a bullish candlestick;
level is at 90.26,
take profit is at
and stop loss is at 90.01.
The material has been provided by InstaForex Company – www.instaforex.com