The greenback continued to move with the bullish bias on Wednesday, approaching the 100.00 handle which is a key zone across the board. However, USDX may start to show some pullbacks in order to correct last session's rally. If the index manages to break above 99.63, then the next target should be placed at 100.00.
H1 chart's resistance levels: 99.63 / 99.97
H1 chart's support levels: 99.23 / 98.77
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 lies at 99.63, take profit is located at 99.97 and stop loss is found at 99.28.
The material has been provided by InstaForex Company - www.instaforex.com