On the H1 chart, USDX had some declines after the Federal Reserve decided to leave interest rates unchanged this month, and the market reacted with a drop of the US Dollar. However, Yellen’s words offered some support to the Index, and it keeps trading above the 200 SMA. If
USDX manages to break the 94.68 level again, then it could rally
toward the 95.19 level.
H1 chart’s resistance
levels: 94.68 / 95.19
H1 chart’s support levels: 94.30
/ 94.07
Trading recommendations for today:
Based on the H1 chart, place
buy
(long)
orders only if the USD Index
breaks with
a bullish
candlestick;
the resistance
level is at
94.68,
take profit is at
95.19,
and stop loss is at 94.16.
The material has been provided by InstaForex Company – www.instaforex.com
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