The bears are guiding the road in the USDX and it seems we can expect another leg lower to test the support zone of 91.85. The 200 SMA at the H1 chart is still offering a dynamic resistance across the board and if it manages to break below 91.85, then it's likely to see another fall to test the support level mentioned above.
H1 chart's resistance levels: 93.60 / 93.98
H1 chart's support levels: 92.70 / 91.85
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 92.70, take profit is at 91.85 and stop loss is at 93.53.
The material has been provided by InstaForex Company - www.instaforex.com
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