The USDX continues to remain above the bullish trend line at the level of 92.20. On the H4 chart, we can see that this instrument could not overcome the barrier set by the resistance level of 92.62. Therefore, the bullish bias has not caught momentum in recent days, although this is normal, as the USDX had gained much bullish ground in recent weeks.
H4chart's resistance levels: 92.62 / 94.25
H4chart's support levels: 92.10 / 91.62
On the H1 chart, the USDX has consolidated again above the support level of 92.08, so the closest target in the short term remains the resistance level of 92.51. As a result, the USDX is forming a higher high pattern to gain more positions this week, due to the release of US NFP data during the session last Friday.
H1 chart's resistance levels: 92.51 / 92.92
H1 chart's support levels: 92.08 / 91.66
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 92.51, take profit is at 92.91, and stop loss is at 92.08.
The material has been provided by InstaForex Company - www.instaforex.com
For detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for January 14, 2015 . Thanks for your support.
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