USDX is looking to extend the bearish bias below 99.00, as the index weakened during Friday’s session despite good NFP numbers. So far, the next support lies at the 98.42 level, where a breakout should open the doors to test the 97.93 level, while a rebound can produce another visit of the 200 SMA on H1 chart. MACD indicator remains on the negative territory, supporting the downside idea.
H1 chart’s resistance levels: 98.89 / 99.28
H1 chart’s support levels: 98.42 / 97.93
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 98.42, take profit is at 97.93 and stop loss is at 99.24.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
USDX is looking to extend the bearish bias below 99.00, as the index weakened during Friday’s session despite good NFP numbers. So far, the next support lies at the 98.42 level, where a breakout should open the doors to test the 97.93 level, while a rebound can produce another visit of the 200 SMA on H1 chart. MACD indicator remains on the negative territory, supporting the downside idea.
H1 chart’s resistance levels: 98.89 / 99.28
H1 chart’s support levels: 98.42 / 97.93
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 98.42, take profit is at 97.93 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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