Daily chart: The USDX has not had significant movements affecting the current trend in this instrument. Now, the USDX has made a rebound on the support level of 84.29, so it is very likely that the USDX will attempt to climb to the resistance level of 85.18. The MACD indicator is entering negative territory.
H4 chart: The USDX continues to find support on the bullish trend line at the level of 84.52, so the next target for the USDX would be the resistance level of 85.06 in the short term. If this instrument manages to consolidate above this level, it would be expected to rise to the level of 86.10. The MACD indicator remains in negative territory.
H1 chart: The USDX has made a rebound on the support level of 84.37, where this instrument has formed a fractal. Now, the USDX is forming a bullish pattern above the support level of 84.60. If the USDX does make a breakout at the 84.81 level, it is expected to rise to the resistance level of 85 03. The MACD indicator remains in positive territory.
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 84.81, take profit is at 85.03, and stop loss is at 84.59.
The material has been provided by InstaForex Company - www.instaforex.com
