USDX is looking to perform a rebound above the 200 SMA, as the Index is hovering around that indicator. That's why we would like to see a rally to test the resistance level of 96.60, where a breakout could push it towards the 97.74 level. However, if we can see a turn lower in coming hours, the price could try a breakout below the 95.89 level.
H1 chart's resistance levels: 96.60 / 97.74
H1 chart's support levels: 95.89 / 95.20
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 96.60, take profit is at 97.74 and stop loss is at 95.47.
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