The USDX continues to reach new high levels in the H4 chart, because this instrument is about to consolidate above bullish trendline at the level of 91.50. On the upside, it is very likely that the USDX will rise to the resistance level of 93.00 in the medium term, although the USDX could begin to form a bullish pattern.
H4chart's resistance levels: 91.70 / 92.50
H4chart's support levels: 90.16 / 89.55
In the H1 chart, during yesterday's session, the USDX found strong bearish pressure at the level of 91.66, so this instrument moved into a range. However, remember that if the USDX makes a breakout at the support level of 91.24, it's expected to fall to the level of 90.74, where this instrument would fill one bullish gap.
H1 chart's resistance levels: 91.66 / 92.08
H1 chart's support levels: 91.24 / 90.74
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 91.66, take profit is at 92.08, and stop loss is at 91.23.
The material has been provided by InstaForex Company - www.instaforex.com
