USDX remained supported on Monday, as the momentum wasn't enough to allow a breakout below the 96.73 level. That zone is the last hurdle before the 96.25 demand zone, while a rebound should produce another test of the 200 SMA at H1 chart. However, our immediate resistance is projected around 97.41. MACD indicator is turning flat, favoring a sideways market in a short-term basis.
H1 chart's resistance levels: 97.41 / 98.11
H1 chart's support levels: 96.73 / 96.25
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 96.73, take profit is at 96.25 and stop loss is at 97.22.
