Daily chart: The USDX has had slow movements in the last hours above the support level of 81.50. For now, the bullish trend remains strong in this instrument, so it is likely that the bullish trend will strengthen in the coming days. If the USDX makes a breakout at the support level of 81.50, it would be expected to fall to the level of 80.62, where the 200 SMA is. The MACD indicator is moving into negative territory.
H4 chart: The USDX has formed another fractal near the support level of 81.28, so the USDX could climb back to the resistance level of 81.72. If the USDX does make a breakout at that level, it would be expected to rise to the level of 82.45. The MACD indicator is in positive territory.
H1 chart: The USDX has made a rebound on the 200-day moving average, so far, the USDX is trying to consolidate above the support level of 81.57. If the USDX does make a breakout at the 81.73 level, it is expected to rise to the resistance level of 82.02. The MACD indicator is in positive territory.
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 81.73, take profit is at 82.02, and stop loss is at 81.45.
The material has been provided by InstaForex Company - www.instaforex.com
