The index managed to remain consolidated above the support level of 96.32, following the US NFP's rally and now it points to test the 96.75 level. Currently, USDX is trying to consolidate above the 200 SMA and to extend the gains during the week. A breakout above that resistance should push the index towards the July 27th high.
H1 chart's resistance levels: 96.32 / 96.75
H1 chart's support levels: 95.93 / 95.51
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 96.32, take profit is at 96.75 and stop loss is at 95.90.
The material has been provided by InstaForex Company - www.instaforex.com