USDX is trading below the resistance zone of 95.68, but the intraday structure remains sideways. However, an acceleration below the 95.22 level will open the doors for a decline toward the 94.89 level, where a rebound is expected, as the 200 SMA on H1 chart can act as a dynamic support. MACD indicator is supporting further weakness on an intraday basis.
H1 chart's resistance levels: 95.68 / 96.14
H1 chart's support levels: 95.22 / 94.89
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 95.68, take profit is at 96.14, and stop loss is at 95.20.
