USDX continues to show weakness in the market, as the support zone of 96.90 has been reached during Monday’s session. That’s the latest hurdle before testing the next key area of 96.25. There are no signs of a further trend change in the short term, but we cannot discard yet a rebound towards the 97.41 level, as the MACD aims to enter the positive territory.
H1 chart’s resistance levels: 97.41 / 98.11
H1 chart’s support levels: 96.90 / 96.25
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USDX continues to show weakness in the market, as the support zone of 96.90 has been reached during Monday’s session. That’s the latest hurdle before testing the next key area of 96.25. There are no signs of a further trend change in the short term, but we cannot discard yet a rebound towards the 97.41 level, as the MACD aims to enter the positive territory.
H1 chart’s resistance levels: 97.41 / 98.11
H1 chart’s support levels: 96.90 / 96.25
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 96.90, take profit is at 96.25 and stop loss is at 97.56.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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