The index was under a heavy selling pressure during Tuesday's session, pushing lower towards 96.38, where is located the immediate support for the greenback. If that level gives up, we can witness a downside's continuation towards the support area of 95.77. To the upside, if USDX does a rebound, it can retrace back towards 96.77.
H1 chart's resistance levels: 96.77 / 97.20
H1 chart's support levels: 96.38 / 95.77
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 96.38, take profit is at 95.77 and stop loss is at 97.00.
The material has been provided by InstaForex Company - www.instaforex.com
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