USDX went into recovery mode during Thursday's session and it's finding dynamic resistance at the 200 SMA so far. The bearish bias is still active and we're favoring that scenario, but with a breakout higher above the 101.43 level, that possibility should turn into a bullish view for the short and medium term at least, looking for the 102.39 level in a first degree.
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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