USDX is very close to finding strong resistance around the 94.85 level in an effort to resume the bearish bias toward new lows, as the Index
is getting outside of the 200 SMA on the H1 chart. However, we can
expect a downside continuation when the USDX does a breakout below
the 94.40 level, with targets around the 93.95 level.
H1 chart’s resistance
levels: 94.85 / 95.21
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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