The USDX is recovering from recent losses above the support level of 97.60 and it should be expected to test the 200 SMA in the H1 chart, where a pullback can happen because of the dynamic resistance offered. However, if the USDX wants to resume the bullish bias, then we should see first a higher high pattern formation above that moving average. The MACD indicator is entering the neutral territory.
H1 chart's resistance levels: 98.14 / 98.80
H1 chart's support levels: 97.60 / 97.01
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the US dollar index breaks with a bearish candlestick; the support level is found at 97.60, take profit is at 97.01, and stop loss is at 98.21.
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 December 11, 2015 . Thanks for your support.
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