The index is forming a lower low pattern following the Fed's interest rate decision to hike by 25 basis points during December's meeting. So far, USDX remains supported by the 93.30 level, at which a breakout should expose the 92.83 level. However, the risk to the upside remains in place and once could expect some rebounds in order to test December 12th highs.
H1 chart's resistance levels: 94.09 / 94.85
H1 chart's support levels: 93.30 / 92.83
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 93.30, take profit is at 92.83 and stop loss is at 93.76.
