USDX managed to recover most of the losses posted during Monday's session and currently it's poised to reach the resistance zone of 96.14. If the index attempts a breakout over there, then the next upside target will be found at 96.51, while a pullback should drive it to test the 200 SMA on the H1 chart. MACD indicator is reaching overbought conditions.
H1 chart's resistance levels: 96.14 / 96.51
H1 chart's support levels: 95.79 / 95.49
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 96.14, take profit is at 96.51 and stop loss is at 95.76.
The material has been provided by InstaForex Company - www.instaforex.com