The index managed to stay above the support level of 95.83 during the wednesday's session, because the USDX continued to develop a bullish pattern on the daily chart. That is why we should put our focus on the resistance level of 96.64, where a rally should be expected in coming days, while the index continues to trade above the support level of 95.26.
On the H1 chart, the USDX did a pullback at the resistance level of 96.34 after it faced sellers' reaction over there. We expect another rebound towards that zone, because bulls are still strong enough to do intraday rallies, which should hold above the 200 SMA in this time frame. Thr MACD indicator is entering the negative territory.
Daily chart's resistance levels: 96.64 / 97.23
Daily chart's support levels: 95.83 / 95.26
H1 chart's resistance levels: 96.09 / 96.34
H1 chart's support levels: 95.80 / 95.54
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks with a bullish candlestick; the resistance level is seen at 96.09, take profit is at 96.34, and stop loss is at 95.86.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of USDX for September 10, 2015 . Thanks for your support.
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