FX.co ★ Daily analysis of USDX for March 23, 2018

The index is forming a bearish pattern below the 200 SMA at the H1 chart and stays supported by the 89.36 level. We're not seeing a breakout of the range in which has been trapped during the last few weeks. That's why a break below 89.36 should not be discarded and if that happens, the index could 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.