According to the H1 chart, the USDX is still showing a sideways structure above the support level of 94.40, where we can see that buyers’ active zone is highly active and trying to push higher to the Index. However, as long
as it stays below the 200 SMA in this time frame, we can expect a
decline towards the 93.95 level. The MACD indicator is in negative
territory.
H1 chart’s resistance
levels: 94.85 / 95.12
H1 chart’s support levels: 94.40
/ 93.95
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
94.40,
take profit is at
93.95,
and stop loss is at 94.85.
The material has been provided by InstaForex Company – www.instaforex.com
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