USDX did a retracement from Monday's highs and now it's testing the 200 SMA on H1 chart, around 100.93, where a demand zone is located. If the index does a rebound above that area, it can resume the overall bias toward new highs, probably above the 102.00 handle, while in the other scenario, a breakout below the 100.93 level should expose the 100.43 price zone.
H1 chart's resistance levels: 101.56 / 101.93
H1 chart's support levels: 100.93 / 100.43
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 101.56, take profit is at 101.93 and stop loss is at 101.18.
The material has been provided by InstaForex Company - www.instaforex.comFrom www.instaforex.com http://ift.tt/2hoRqc0
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