At the H4 chart, the USDX is strong in the current bullish trend, because this pair made a rebound on bullish trend line at the level of 87.35. The USDX could make a breakout at the resistance level of 87.93, although this instrument could make a pullback at the current levels and fall to the level of 87.35 in the next hours.
H4chart's resistance levels: 87.93 / 88.65
H4chart's support levels: 87.35 / 87.00
On the H1 chart, the USDX is forming a higher high pattern above support level of 87.58, besides the USDX has become increasingly critical force from Monday's session. If the USDX manages to break the fractal formed at the level of 87.90, the next target would be the level of 88.15. The USDX is still holding above the 200 SMA and MACD indicator remains in the positive territory.
H1 chart's resistance levels: 87.86 / 88.15
H1 chart's support levels: 87.58 / 87.28
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 87.86, take profit is at 88.15, and stop loss is at 87.56.
The material has been provided by InstaForex Company - www.instaforex.com
