FX.co ★ Daily analysis of USDX for February 09, 2018

USDX stayed in a recovery phase on Thursday and gains are being capped by the resistance level of 90.63. If a breakout happens over there, the index could travel towards the 91.75 zone. As long as it remains above the 200 SMA at the H1 chart, we expect further bullish moves. However, the risk to the downside is still high and one could expect a leg lower to test the 89.36 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.