USDX is still weakening in the markets, as latest polls have been
putting to the Republican candidate Donald Trump as the favorite to
win the US presidential elections. We’re seeing a support placed at
the 97.12 level, where a breakout should open the doors to test the
96.47 level, which is a key interest area for a possible bullish
reaction. The index remains below the 200 SMA at H1 chart, supporting
the bearish scenario.
H1 chart’s resistance
levels: 97.62 / 98.01
H1 chart’s support levels: 97.12
/ 96.47
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
97.12,
take profit is at
96.47
and stop loss is at 97.75.
The material has been provided by InstaForex Company – www.instaforex.com
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