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    EUR/USD Intraday Technical Analysis

    The USDX is currently facing very strong resistance in the daily time frame, because the zone around the level of 96.57 remains very solid acting as supply territory for the Index. That is why we want to see another pullback again until the support level of 95.74. The MACD indicator is reaching an overbought territory.


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    In the H1 chart, the USDX made a very interesting price action at the yesterday session/ The Index pulled back from the highs around the level of 97.20 and now it is looking for the dynamic support offered by the 200 SMA. If the USDX does a rebound over there, it would be expected to test the resistance level of 96.38 again.


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    Daily chart's resistance levels: 96.57 / 97.57

    Daily chart's support levels: 95.74 / 94.66

    H1 chart's resistance levels: 96.38 / 96.65

    H1 chart's support levels: 96.13 / 95.89

    Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US Dollar Index breaks out with a bullish candlestick; the resistance level is at 96.38, take profit is at 96.65, and stop loss is at 96.13.

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