FX.co ★ Daily analysis of USDX for February 02, 2018

The index is still trading below the 200 SMA at the H1 chart and comatose around the 89.00 handle across the board. That's an indication of sideways moves to take place in the short-term and USDX is waiting for a catalyst that triggers strong moves. If the January 25th lows give up, then it can plummet towards the 87.88 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.