The index is still in sideways mode around the key handle of 100.00, but there are no clear signs of a possible bottom placed, as the US Dollar remains fundamentally weak amid Trump's prospects about US economy. If USDX does a breakout below that area, further declines are expected toward the 98.98 level. MACD indicator is favoring that scenario within the negative territory.
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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