USDX is still lower in the short-term, as the markets are still on risk-on sentiment following French elections. Currently, the index is testing the support zone of 98.83, which has been a level that hasn't allowed the formation of new lower lows. That's why we're still following toe recovery idea of a testing above the 99.28 level, focusing on the 100.00 handle as the next key zone to the upside.
H1 chart's resistance levels: 99.28 / 99.97
H1 chart's support levels: 98.83 / 98.42
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 98.83, take profit is at 98.42 and stop loss is at 99.24.
The material has been provided by InstaForex Company - www.instaforex.com
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