The USDX is currently dealing with strong resistance placed around the level of 96.57 and we can expect a rally towards the next high of 97.57, but the index seems to get enough bearish momentun in order to make pullbacks in coming days. However,
we should recommend to be caution when trading on both sides, at this
In the H1 chart, the USDX did a pullback towards the price zone of 97.10. Now, it’s looking to test the
support level of 96.38 again after performing a rebound above the 200 SMA.
We should be aware of the current intraday bearish structure as the USDX could aim to test the moving average
mentioned above again.
resistance levels: 97.57 / 98.29
support levels: 96.57 / 95.74
H1 chart’s resistance
levels: 96.72 / 96.86
H1 chart’s support levels: 96.38
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 96.72,
take profit is at
and stop loss is at 96.56.
The material has been provided by InstaForex Company – www.instaforex.com