The index moved into a recovery phase during last Friday, consolidating some gains above the support level of 94.32. The nearest resistance is at the 94.65 level, where we should see a breakout in order to rise towards the 95.00 psychological zone, where the 200 SMA at H1 chart is also located. However, if USDX chooses the bearish side, then it should break the 94.32 level to later test the 94.07 zone.
H1 chart’s resistance levels: 94.65 / 95.00
H1 chart’s support levels: 94.32 / 94.07
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 94.32, take profit is at 94.07 and stop loss is at 94.57.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index moved into a recovery phase during last Friday,
consolidating some gains above the support level of 94.32. The
nearest resistance is at the 94.65 level, where we should see a
breakout in order to rise towards the 95.00 psychological zone, where the 200 SMA at H1 chart is also located. However, if USDX chooses the
bearish side, then it should break the 94.32 level to later test the
94.07 zone.
H1 chart’s resistance
levels: 94.65 / 95.00
H1 chart’s support levels: 94.32
/ 94.07
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
94.32,
take profit is at
94.07
and stop loss is at 94.57.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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