USDX remains supported by the key handle of 100.00, as the bears are losing momentum below the 200 SMA. That's why we're expecting a recovery toward the resistance level of 101.43, in which the index will decide about its short-term path. If it manages to break above the 102.39 level, then it can strengthen the bullish bias. MACD indicator is entering at the positive territory, favoring that scenario.
H1 chart's resistance levels: 101.43 / 102.39
H1 chart's support levels: 100.01 / 98.98
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 100.01, take profit is at 98.98 and stop loss is at 101.03.
The material has been provided by InstaForex Company - www.instaforex.com
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