USDX is currently doing a breakout below the 97.12 level, which is opening the doors to test the 96.47 level. However, because the US presidential elections are coming this Tuesday, the index may be performing under sideways moves, but still, we see a bearish bias strengthening across the board, below the 200 SMA at H1 chart. If USDX does a rebound at the current stage, it can go towards the 97.62 level.
H1 chart's resistance levels: 97.62 / 98.01
H1 chart's support levels: 97.12 / 96.47
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 97.12, take profit is at 96.47 and stop loss is at 97.75.
