FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

#USDX H4 Murray levels

The index quotes fell just short of the support at the 0/8 level and as a result moved slightly to the north. But the fact is that a bit higher there is resistance not only from the 2/8 and 3/8 levels but also from the moving average. This kind of picture may indicate the possibility of testing the resistances and then heading south again. And in that case the support at the 0/8 level will be tested, and maybe not only tested. A promising northward direction for the index quotes is possible only once they move above the resistance at the 5/8 level and preferably consolidate above it. All the best.