Daily chart: The USDX had no major changes during yesterday's session, so this instrument remains strong in the bullish trend, below the resistance level of 81.50. Probably, the corrective movements could extend to the support level of 81.00, but bullish outlook still remains alive in the USDX. The MACD indicator remains in positive territory.
H4 chart: The USDX has moved in a range below the bullish trend line near the 81.55 level. If the USDX does make a breakout at the support level of 81.02, it's expected to fall to the level of 80.60, where the 200 SMA is located. For now, the MACD indicator remains in negative territory.
H1 chart: The USDX continues to find resistance at 81.40, but there are still chances that the USDX will try a breakout on the resistance level of 81.40 to move up to the level of 81.58, because the USDX is still above the 200-day moving average in this chart. The MACD indicator is entering negative territory.
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 81.40, take profit is at 81.58, and stop loss is at 81.21.
The material has been provided by InstaForex Company - www.instaforex.com
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