On the H1 chart, the USDX is trading with a very strong bullish bias after the FOMC meeting on Wednesday. Currently, we expect a pullback towards the support zone of 97.51, which is a part of a higher high pattern in the H1 chart. If a corrective move continues to go deeper, a test around the support level of 97.16 should be expected. The MACD indicator is still at the positive territory.
H1 chart's resistance levels: 97.79 / 98.11
H1 chart's support levels: 97.51 / 97.16
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 97.79, take profit is at 98.11, and stop loss is at 97.48.
