On H1 chart, USDX is currently making a pullback to correct the bullish bias held since recent days. The declines could go toward the 200 SMA, where a dynamic support can be found. A breakout above the resistance zone of 95.68 will give more momentum to bulls on a short-term basis toward the 96.14 price level. MACD indicator is still favoring the bearish scenario.
H1 chart's resistance levels: 95.68 / 96.14
H1 chart's support levels: 95.22 / 94.89
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 95.68, take profit is at 96.14, and stop loss is at 95.20.
The material has been provided by InstaForex Company - www.instaforex.com