The USDX made a pullback at the resistance level of 92.62 and this instrument may close the week in the range between the 92.62 and 91.62 levels. This is because the USDX has not found a way to consolidate a solid trend on a medium term basis. During yesterday's session, the USDX made a rebound to the support level of 91.62 after being rejected by the aforementioned resistance zone.
H4chart's resistance levels: 92.62 / 94.45
H4chart's support levels: 91.62 / 91.17
On the H1 chart, the USDX had an intraday fall from the level of 92.75 after conducting a strong bullish rebound at the 200-day moving before yesterday's American session. Now, the support USDX located at the level of 92.08, so this instrument is likely to reach the resistance level of 92.51. The MACD indicator remains in the negative territory.
H1 chart's resistance levels: 92.51 / 92.92
H1 chart's support levels: 92.08 / 91.66
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 92.51, take profit is at 92.92, and stop loss is at 92.10.
The material has been provided by InstaForex Company - www.instaforex.com
