Daily analysis of USDX for April 12, 2017

The index extended its decline during Tuesday and approached the 200 SMA at H1 chart, where possibly it could start to find dynamic support. If a rebound happens there, we can expect a rally to test the resistance zone of 101.25. The overall structure is still pointing to the upside, but a bullish scenario's invalidation can happen when USDX consolidates below 100.43 in order to reach the 100.00 handle.

H1 chart's resistance levels: 101.25 / 101.62

H1 chart's support levels: 100.75 / 100.43

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 101.25, take profit is at 101.62 and stop loss is at 100.87.