At H1 chart, USDX is consolidating higher and the resistance zone of 96.32 is being challenged. Above that zone, we can expect another advance towards the 96.75 level, where the sellers could be waiting for. However, a pullback can drive the Index to re-test the support zone of 95.51. MACD indicator is showing overbought conditions.
H1 chart’s resistance levels: 96.32 / 96.75
H1 chart’s support levels: 95.93 / 95.51
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 96.32, take profit is at 96.75 and stop loss is at 95.90.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
At H1 chart, USDX is consolidating higher and the resistance zone of
96.32 is being challenged. Above that zone, we can expect another
advance towards the 96.75 level, where the sellers could be waiting
for. However, a pullback can drive the Index to re-test the support
zone of 95.51. MACD indicator is showing overbought conditions.
H1 chart’s resistance
levels: 96.32 / 96.75
H1 chart’s support levels: 95.93
/ 95.51
Trading recommendations for today:
Based on the H1 chart, place
buy
(long)
orders only if the USD Index
breaks with
a bullish
candlestick;
the resistance
level is at
96.32,
take profit is at
96.75
and stop loss is at 95.90.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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