USDX had another bearish session during Thursdays with the bears taking control of the situation, now with the focus placed towards the 90.30 level. This is a likely scenario given that it's breaking August 29th lows and Bollinger bands are calling for another leg lower. To the upside, if it manages to do a rebound, then we can expect a rally to test the 200 SMA once again at H1 chart.
H1 chart's resistance levels: 93.09 / 94.04
H1 chart's support levels: 91.67 / 90.30
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 91.67, take profit is at 90.30 and stop loss is at 93.04.
The material has been provided by InstaForex Company - www.instaforex.com