USDX erased post-US positive data after Fed's interest rate decision on Wednesday. The index is now looking to reach the support level of 99.46, where a breakout lower should expose the 98.98 level. The overall bearish structure remains alive and if we witness a breakout below 99.46, that bias should last for several days more, as the MACD indicator is trying to enter the negative territory.
H1 chart's resistance levels: 99.80 / 100.36
H1 chart's support levels: 99.46 / 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 99.46, take profit is at 98.98 and stop loss is at 99.95.
The material has been provided by InstaForex Company - www.instaforex.com
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