Daily analysis of USDX for April 05, 2017

USDX continues with the consolidation above the 200 SMA and it's looking to reach the resistance zone of 100.73 in order to perform a breakout. The bears are still in the scenario and one cannot discard further pullbacks toward the 100.00 psychological area. If the index decides to take the bullish path, then it can reach the 101.20 level.

USDXH1.png

H1 chart's resistance levels: 100.73 / 101.20

H1 chart's support levels: 100.43 / 100.08

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 100.73, take profit is at 101.20 and stop loss is at 100.24.

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