USDX is consolidated above the 200 SMA at H1 chart and looks forward to the resistance level of 94.00, which is a key psychological zone. If a breakout happens over there, then we might expect further advances in the index towards the 94.47 level. If a pullback happens at the current stage, one could expect a dynamic support in the 200 SMA.
H1 chart's resistance levels: 94.00 / 94.47
H1 chart's support levels: 93.25 / 92.80
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 94.00, take profit is at 94.47 and stop loss is at 93.55.
The material has been provided by InstaForex Company - www.instaforex.com
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