USDX stays above the 200 SMA at H1 chart and looks forward to reaching the resistance zone of 90.63, where a breakout should open the doors to test the 91.75 level. Such move should strengthen the bullish bias, as the index has been struggling to consolidate a clear trend in the short-term. To the downside, if it manages to break below 89.36, then the next target would be the 87.88 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
USDX stays above the 200 SMA at H1 chart and looks forward to reaching the resistance zone of 90.63, where a breakout should open the doors to test the 91.75 level. Such move should strengthen the bullish bias, as the index has been struggling to consolidate a clear trend in the short-term. To the downside, if it manages to break below 89.36, then the next target would be the 87.88 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
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