USDX is still looking to recover from recent losses and it’s likely
that we could see a spike toward the 200 SMA at H1 chart around
102.30. If the index manages to break above that area, it’s
expected to see a rally to test the resistance level of 102.81.
However, if we see a pullback at the current stage, we could expect
further downside toward 101.39.
H1 chart’s resistance
levels: 102.29 / 102.81
H1 chart’s support levels:
101.96 / 101.39
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
101.96,
take profit is at
101.39
and stop loss is at 102.54.
The material has been provided by InstaForex Company – www.instaforex.com
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