On the H1 chart, we should note that the bullish path is alive above the 200 SMA, and the price action is showing strength of bulls. One scenario is calling for a breakout above the level of 99.22, but we can still expect a sideways move here until the index re-tests the support zone of 98.79 in coming days. The MACD indicator is at the positive territory.
H1 chart's resistance levels: 99.22 / 99.49
H1 chart's support levels: 98.79 / 98.39
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 99.22, take profit is at 99.49, and stop loss is at 98.94.
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 15, 2016 . Thanks for your support.
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