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

USDX was favored by a buying wave that hit on Tuesday, with the focus now placed at the 92.62 level, where a breakout should expose the 93.00 psychological area. However, due to the nature of the rally, we can expect some retracements at least towards the 200 SMA at H1 chart, which should provide a dynamic support across the board.

H1 chart's resistance levels: 91.25 / 92.62

H1 chart's support levels: 90.46 / 89.36

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bearish candlestick; the support level is at 91.25, take profit is at 92.62 and stop loss is at 90.86.