The index gained momentum during Thursday’s session and it’s
challenging the strong resistance placed around 96.93, which is the
last hurdle ahead of 97.41. Once USDX manages to consolidate above
the 200 SMA at H1 chart, then it can go for higher levels and
eventually for the psychological zone of 98.00. To the downside,
we’re still expecting a pullback towards 96.53.
H1 chart’s resistance
levels: 96.93 / 97.41
H1 chart’s support levels: 96.53
Trading recommendations for today:
Based on the H1 chart, place
orders only if the USD Index
level is at
take profit is at
and stop loss is at 97.21.
The material has been provided by InstaForex Company – www.instaforex.com