The broad-based weakness in the US Dollar Index continues to dominate the overall picture across the board, as the index is making a breakout of the support level at 89.36. Currently, USDX is on the way to test the next support which lies at 87.88. If a rebound happens in the current area, then the next target to the upside would be the 90.00 level.
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
The broad-based weakness in the US Dollar Index continues to dominate the overall picture across the board, as the index is making a breakout of the support level at 89.36. Currently, USDX is on the way to test the next support which lies at 87.88. If a rebound happens in the current area, then the next target to the upside would be the 90.00 level.
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
Related Posts: