The USDX is currently trading above the support level of 94.66 and there is a strong fight between bears and bulls, because the Index could do a rebound at current levels. Thanks to a possible bullish
momentum, which could give that support zone mentioned above. The MACD
indicator is in the negative territory.
There are no major changes in the
short-term outlook for the USDX, but the Index is still moving above
the support level of 95.15, a zone which rejected the US Dollar Index
during yesterday's session. Currently, we should expect a rise
towards the resistance level of 95.71 and a breakout could happen
there in coming hours.
resistance levels: 95.74 / 96.97
support levels: 94.66 / 93.75
H1 chart's resistance
levels: 95.71 / 96.16
H1 chart's support levels: 95.15
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index breaks with a bullish
level isseen at 95.71,
take profit is at
and stop loss is at 96.32.
The material has been provided by InstaForex Company – www.instaforex.com