USDX is doing some pullbacks around the 99.58 level after a bullish momentum gained above the support zone of 98.90. At H1 chart, we should note the Index is forming a higher high pattern that can be looking to reach the 99.87 level, and eventually the 100.00 key psychological zone. MACD indicator is entering negative territory.
H1 chart's resistance levels: 99.58 / 99.87
H1 chart's support levels: 99.07 / 98.90
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 99.58, take profit is at 99.87, and stop loss is at 99.31.
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 January 06, 2016 . Thanks for your support.
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