Despite positive US data released yesterday, USDX is currently trading with a bearish bias below the 200 SMA on the H1 chart and remains supported by the 95.89 level, where a rebound can happen. However, a breakout below that zone could push the Index lower to the 95.20 level first. In a different scenario, a bullish move will be possible only if the USDX does a breakout above the 96.60 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
Despite positive US data released yesterday, USDX is currently trading with a bearish bias below the 200 SMA on the H1 chart and remains supported by the 95.89 level, where a rebound can happen. However, a breakout below that zone could push the Index lower to the 95.20 level first. In a different scenario, a bullish move will be possible only if the USDX does a breakout above the 96.60 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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