On the H1 chart, the USDX is currently trading slowly and waiting for the FOMC meeting. However, if
a corrective move continues to push the pair lower, then we can expect a
test around the level of 96.56 on a short-term basis. The MACD indicator
remains at the negative territory, and that’s why we recommend to be caution
when adding long orders at the current stage.
H1 chart’s resistance
levels: 97.16 / 97.51
H1 chart’s support levels: 96.85
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US dollar index
level is seen at
take profit is at
and stop loss is at 96.81.
The material has been provided by InstaForex Company – www.instaforex.com