On the daily chart, as it was expected, the USDX found dynamic support at the 200 SMA and is currently performing a rebound above it, which is now shifting the focus towards the resistance levels of 95.83 and 96.64 respectively. A pullback towards
the level of 94.59 should be expected, but the bullish tone is still alive.
The US Dollar Index is facing the 200 SMA
dynamic resistance now offered on the H1 chart, around the level of 95.33, where we a pullback towards 95.08 should be expected. However, if the USDX
breaks the resistance level of 95.33, it would be expected to test the zone around
95.68. The 200 SMA is neutral and the MACD indicator remains
in the positive territory.
resistance levels: 95.83 / 96.64
support levels: 95.26 / 94.59
H1 chart's resistance
levels: 95.33 / 95.68
H1 chart's support levels: 95.08
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 95.08,
take profit is at
and stop loss is at 95.47.
The material has been provided by InstaForex Company – www.instaforex.com