On the daily chart, the USDX has been trading above the support level of 95.26, after a bullish momentum gained during yesterday's session. Ahead of the Fed's decision on ots interest rate hike, we should expect moves between the 95.83 and 95.26.
The USDX is currently facing strong resistance around the level of 95.65 where the 200 SMA is located in the H1
chart. We should expect a pullback over there and then the Index could fall again until at least 95.41. Consolidation below that
zone will open doors to a test at 95.20 during coming
resistance levels: 96.64 / 97.23
support levels: 95.83 / 95.26
H1 chart's resistance
levels: 95.65 / 95.83
H1 chart's support levels: 95.41
Trading recommendations for today:
Based on the H1 chart, place
orders only if the US Dollar Index
level is at
take profit is at
and stop loss is at 95.61.
The material has been provided by InstaForex Company – www.instaforex.com