The index gained momentum during Thursday's session and it's challenging the strong resistance placed around 96.93, which is the last hurdle ahead of 97.41. Once USDX manages to consolidate above the 200 SMA at H1 chart, then it can go for higher levels and eventually for the psychological zone of 98.00. To the downside, we're still expecting a pullback towards 96.53.
H1 chart's resistance levels: 96.93 / 97.41
H1 chart's support levels: 96.53 / 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 96.53, take profit is at 96.25 and stop loss is at 97.21.
