The index had a strong bearish gap opening in the week, hovering
around 98.83, where is located the nearest support across the board.
We might expect a rebound to take place and it could go towards the
99.28 level, where a breakout can open the doors to reach the 100.00
handle. Also, there is located a 200 SMA at H1 chart.

USDXH1.png

H1 chart’s resistance
levels: 99.28 / 99.97

H1 chart’s support levels: 98.83
/ 98.42

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
98.83,
take profit is at
98.42
and stop loss is at 99.24.

The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com

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