On the daily chart, the USDX has had no significant changes in the current trend. For now, the USDX remains above the support level of 87.35, where this instrument is forming a bullish pattern. The next upside target on the road, it would be the resistance level of 88.63. However, the USDX could make a breakout at the support level of 87.35 and fall to the level of 86.20.
Dailychart's resistance levels: 88.63 / 90.40
Dailychart's support levels: 87.35 / 86.20
The USDX could not overcome the resistance offered by the level of 87.86 on the H1 chart. However, the USDX is trying to enhance a breakout at that level for up to the resistance level of 88.15. In the short term, the USDX is very close to the 200-day moving average. The MACD indicator remains in the neutral 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
