Daily analysis of USDX for October 03, 2017

The index remains strong above the support level of 93.09 and looks forward to testing the resistance zone of 94.04, as the 200 SMA continues to provide the path for the short-term. If the index manages to break above 94.04, next target should be the 94.50 level. MACD indicator is turning neutral, calling for sideways in coming hours.

USDXH1.png

H1 chart's resistance levels: 93.09 / 94.04

H1 chart's support levels: 91.67 / 90.30

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 93.09, take profit is at 94.04 and stop loss is at 92.15.

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