Daily analysis of USDX for March 29, 2018

The index is having a bullish momentum and looks forward to breaking above the 200 SMA at the H1 chart, in an effort to reach the March 20th highs. However, the support zone of 89.36 could get broken and could allow additional losses to test the support level of 87.88. To the upside, a critical resistance is located at 90.63.


H1 chart's resistance levels: 90.63 / 91.75

H1 chart's support levels: 89.36 / 87.88

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 89.36, take profit is at 87.88 and stop loss is at 90.81.The material has been provided by InstaForex Company - www.instaforex.com