The index is holding its price action above the support zone of 99.98, where a strong demand area has been established. However, it seems that buyers are losing their momentum in the short term. Eventually, corrective moves could go deeper towards the 99.39 level. If USDX manages to break above 100.68, it can cling towards the 101.74 level.
H1 chart's resistance levels: 100.68 / 101.74
H1 chart's support levels: 99.98 / 99.39
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 100.68, take profit is at 101.74 and stop loss is at 99.59.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2gn37Sf
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