On the daily chart, the USDX is still moving inside a bullish bias which is still alive, as the Index continues to trade above the support level of 96.57. That’s why a breakout above 97.57 shouldn’t be discarded yet, but eventually, the USDX could perform a pullback towards the support zone around 96.57. The MACD indicator is
entering in the neutral territory.
The Index is still bullish, after a false
consolidation which took place below the 200 SMA on the H1 chart. The USDX is
looking to break the resistance level of 97.65, sellers are very strong. The 200 SMA is slightly bullish, but the MACD indicator could enter
in the negative territory.
resistance levels: 97.57 / 98.29
support levels: 96.57 / 95.63
H1 chart’s resistance
levels: 97.65 / 98.09
H1 chart’s support levels: 97.12
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 97.12,
take profit is at
and stop loss is at 97.50.
The material has been provided by InstaForex Company – www.instaforex.com