Daily Analysis of USDX for April 26, 2016
On the H1 chart, USDX had a corrective session from last Friday's highs, as the Index is looking to perform a rebound above the 200 SMA on this timeframe. If that happens during this week, then we can expect a breakout of those highs and eventually USDX may reach new monthly high levels. The MACD indicator is turning into the neutral territory.
H1 chart's resistance levels: 94.85 / 95.01
H1 chart's support levels: 94.70 / 94.50
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 94.85, take profit is at 95.01, and stop loss is at 94.79.
The material has been provided by InstaForex Company - www.instaforex.com