The 200 SMA on the H1 chart is acting as a strong dynamic resistance across the board for USDX as it is struggling to test the 95.79 level. Bullish momentum was seen above the support level of 95.00, where the index attempted to resume the overall upside bias. To confirm that scenario, USDX needs to break the 95.79 level with a big candlestick on a short-term basis.
H1 chart's resistance levels: 95.49 / 95.79
H1 chart's support levels: 95.01 / 94.61
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 95.49, take profit is at 95.79 and stop loss is at 95.19.
The material has been provided by InstaForex Company - www.instaforex.com