The US dollar index is still riding a bullish trend across the board, consolidating gains above the 200 SMA. Eventually we may expect another rally attempt towards the 98.53 level. However, the first day of the week should be key for the trend development, as we're seeing a kind of pattern that should deliver strong movements in coming days and one cannot discard a pullback towards the 97.00 level.
H1 chart's resistance levels: 98.53 / 99.21
H1 chart's support levels: 98.01 / 97.71
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 98.53, take profit is at 99.21 and stop loss is at 97.85.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2dXLYh3
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