USDX continues with the recovery across the board and it's now challenging the 200 SMA, at which a breakout should open the doors to test the resistance zone of 94.00. The current stage in the greenback is key, as we could see a bearish continuation towards the support level of 91.85. MACD indicator is entering the positive territory.
H1 chart's resistance levels: 93.60 / 93.98
H1 chart's support levels: 92.70 / 91.85
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 92.70, take profit is at 91.85 and stop loss is at 93.53.
The material has been provided by InstaForex Company - www.instaforex.com