Daily analysis of USDX for April 05, 2017

USDX continues with the consolidation above the 200 SMA and it’s
looking to reach the resistance zone of 100.73 in order to perform a
breakout. The bears are still in the scenario and one cannot discard
further pullbacks toward the 100.00 psychological area. If the index
decides to take the bullish path, then it can reach the 101.20 level.

H1 chart’s resistance
levels: 100.73 / 101.20

H1 chart’s support levels:
100.43 / 100.08

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
100.73,
take profit is at
101.20
and stop loss is at 100.24.

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

Source:: Daily analysis of USDX for April 05, 2017