The index attempted to break below the support level of 93.30 but the bears failed to continue with the lower extension. The 200 SMA still caps further advances in USDX and it remains giving the path for the short-term. The critical level of 92.83 is the closest target for the bearish force, while to the upside, the nearest resistance lies at 94.09.
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.
