The USDX had a quite day when the week began, as the Index was still trading below the resistance level of 96.64 with no changes in the current outlook for the medium and long terms. We could be in front of a higher high formation, which would give bullish momentum to the
USDX to push it towards new highs.
On the H1 chart, the USDX has been trading sideways, but it still remains above the 200 SMA in this time frame.
The resistance level of 96.34 continues to be the closest upside target. Another short-term outlook calls for a breakout
below the moving average mentioned above, with targets at the
lows that were reached during the trading seccion on September 1.
resistance levels: 96.64 / 97.23
support levels: 95.83 / 95.26
H1 chart’s resistance
levels: 96.34 / 96.63
H1 chart’s support levels: 96.09
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at 96.34,
take profit is at
and stop loss is at 96.01.
The material has been provided by InstaForex Company – www.instaforex.com