The index posted some limited gains on Thursday, closing the session without any major changes. The 200 SMA is still pointing that the greenback is poised to extend its profits in the short term, and the next resistance stands at the key handle of 100.00. However, a corrective move should lead USDX to test the 99.23 level.
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 is located at 99.63, take profit is at 99.97 and stop loss lies at 99.28.
The material has been provided by InstaForex Company - www.instaforex.com