The index didn’t experience any significant changes yesterday, as it performed a rebound above the 200 SMA on the H1 chart, and now it’s close to the resistance level of 96.60. We’re still expecting a breakout higher, which should place the 97.74 price level as the next key resistance for sellers. By the way, at this stage, we cannot discard a retracement towards the 95.89 level.
H1 chart’s resistance levels: 96.60 / 97.74
H1 chart’s support levels: 95.89 / 95.20
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 96.60, take profit is at 97.74 and stop loss is at 95.47.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
The index didn’t experience any significant changes yesterday, as it performed a rebound above the 200 SMA on the H1 chart, and now it’s close to the resistance level of 96.60. We’re still expecting a breakout higher, which should place the 97.74 price level as the next key resistance for sellers. By the way, at this stage, we cannot discard a retracement towards the 95.89 level.
H1 chart’s resistance levels: 96.60 / 97.74
H1 chart’s support levels: 95.89 / 95.20
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 96.60, take profit is at 97.74 and stop loss is at 95.47.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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