FX.co ★ Daily analysis of USDX for January 31, 2018

The index continues to move within a neutral-to-bearish tone across the board and looks forward to breaking below January 25th lows. However, we're expecting that it found strong support over there because a new cycle could have started and then it could target levels above the 200 SMA. If it manages to break above 89.36, the next target would be the 90.63 level.

H1 chart's resistance levels: 90.63 / 91.75

H1 chart's support levels: 89.36 / 87.88

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 89.36, take profit is at 87.88 and stop loss is at 90.81.