Daily analysis of USDX for April 07, 2017

USDX is waiting for the US NFP numbers and today we can expect some action in the US Dollar across the board, as analysts are pricing a positive data. In the bullish scenario, we are targeting the 101.20 level as the next key area, while a pullback should lead the index to test the 100.00 handle. Also, the price action is showing that the markets are expecting for a catalyst that helps to break the range where the greenback had been trapped.

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 07, 2017