The index quickly erased Wednesday's gains after FOMC minutes and now it's being supported by the 100.43 zone. However, the overall picture remains bullish and if the US Dollar index succeeds to break above 100.73, then it can test the 101.20 hurdle. By the other hand, if USDX does a consolidation below the 200 SMA at H1 chart, then the next target would be the 100.00 handle.
H1 chart's resistance levels: 100.73 / 101.20
H1 chart's support levels: 100.43 / 100.08
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 100.73, take profit is at 101.20 and stop loss is at 100.24.
The material has been provided by InstaForex Company - www.instaforex.comfrom www.instaforex.com
