USDX remains capped by the resistance level of 90.63, trading inside a narrow range. The 200 SMA is directionless but still has the potential to provide dynamic support across the board. If the 90.63 level gives up, then the next target would be the 91.75 area. MACD indicator is entering the negative territory, favoring to a short-lived pullback.
H1 chart’s resistance levels: 90.63 / 91.75
H1 chart’s support levels: 89.36 / 87.88
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 89.36, take profit is at 87.88 and stop loss is at 90.81.
The material has been provided by InstaForex Company – www.instaforex.com
USDX remains capped by the resistance level of 90.63, trading inside a narrow range. The 200 SMA is directionless but still has the potential to provide dynamic support across the board. If the 90.63 level gives up, then the next target would be the 91.75 area. MACD indicator is entering the negative territory, favoring to a short-lived pullback.
H1 chart’s resistance levels: 90.63 / 91.75
H1 chart’s support levels: 89.36 / 87.88
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 89.36, take profit is at 87.88 and stop loss is at 90.81.
The material has been provided by InstaForex Company – www.instaforex.com
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