On the daily chart, the USDX remains above the support level of 95.83 and is looking for a way to perform a rally towards the next resistance around the level of 96.64. Currently, our view is still sideways, but the USDX could perform a pullback towards the support level of 95.26. The MACD indicator is turning neutral.
The USDX is still trading sideways on the H1 chart, but current higher moves take place above the
200 SMA, which is neutral. The nearest resistance is located around
the level of 96.09, where we should expect a breakout in order to test the next high at the level of 96.39 in the short term. The MACD
indicator is at the negative territory.
resistance levels: 96.64 / 97.08
support levels: 95.83 / 95.26
H1 chart’s resistance
levels: 96.08 / 96.39
H1 chart’s support levels: 95.68
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 96.08,
take profit is at
and stop loss is at 95.77.
The material has been provided by InstaForex Company – www.instaforex.com