Daily analysis of USDX for April 04, 2017

USDX is being supported by the 99.66 level in the short-term, with a strong resistance trying to cap gains across the board around 100.15. If we witness a breakout over there, one could expect further advances toward 100.64, where the bullish bias could become the main path for the coming days. MACD indicator is reaching the neutral territory.

H1 chart’s resistance levels: 100.64 / 101.17

H1 chart’s support levels: 100.11 / 99.66

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 100.11, take profit is at 99.66 and stop loss is at 100.57.

The material has been provided by InstaForex Company – www.instaforex.com

Source:: Daily analysis of USDX for April 04, 2017