FX.co ★ Technical analysis of USDX for February 03, 2014

Yesterday, the US dollar was trading in line with our expectations. It failed to break the resistance level of 81.32 in the hourly chart. After making three attempts the US dollar lost momentum. Meanwhile, oscillators were not in the bull favor as well. So securing profit is recommended.

It holds the support of 81.0. This morning it is trading at 1.07. In the hourly chart, oscillators gave a pullback signal, so we can expect 81.13 on the higher side.

In the weekly charts, the stochastics gave a sell signal. Traders' eyes are on ADP Non-Farm Employment Change which will be published on Wednesday. Non-Farm Payrolls employment data will be unveiled on Friday.

Short term-

Support: 80.8, 80.44, 80.15

Resistance: 81.32 81.48