The USDX has no changes in the daily time frame, because the index is looking to test the support level of 97.57. If a breakout happens there, the USDX could fall until the level of 96.57. However, we are still expecting a rebound towards the resistance zone of 98.29.
On the H1 chart, the USDX found strong
resistance at the level of 98.09 and now it is pulling back to the
support level of 97.65, which is very close to the current location
of the 200 SMA. However, a rebound at the current stage could happen and
eventually the USDX could break the level of 98.09 and perform a rally
towards the zone of 98.40.
resistance levels: 98.29 / 99.16
support levels: 97.57 / 96.57
H1 chart’s resistance
levels: 98.09 / 98.40
H1 chart’s support levels: 97.65
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 98.09,
take profit is at
and stop loss is at 97.77.
The material has been provided by InstaForex Company – www.instaforex.com