Outlook in USDINDEX has turned neutral at the moment support comes at the 88.26 levels while resistance comes at the 88.71 levels . On the downside , stability below the 88.71 levels on a 4 hour closing basis will build pressure on the 88.26 levels , a cut will open 88.00 levels , further losses will aim the 87.50 levels ahead of the 87.00 levels.
On the upside , a failure to below the 88.26 levels could mean a return to the 88.71 levels , a clear break above this level will restore the upside momentum , If seen , focus will be on the 89.54 levels , further upside will aim the 90.00 levels…
In all , the USDINDEX is likely to consolidate within 88.26/88.71 range before the next move , below the 88.71 levels will open 88.00/87.50 levels , above the 88.71 levels will open 89.54/90.00 levels.
In the medium term forecast , as long as support 87.22 holds on a weekly closing basis , outlook remains on the upside towards the 90.00 levels ahead of the 93.00 levels.below 87.22 will reverse risk towards the 84.51 levels before the next rise..