At H1 chart, USDX is looking to find support after a sharp decline below the key level of 95.50 and now, we can expect a corrective rebound. However, a breakout below the support zone of 95.02 should open the doors to test the 94.73 price zone. In another scenario, the corrective phase should be extended to the 95.93 on a first degree.
H1 chart's resistance levels: 95.51 / 95.93
H1 chart's support levels: 95.02 / 94.73
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 95.02, take profit is at 94.72 and stop loss is at 95.32.
The material has been provided by InstaForex Company - www.instaforex.com