FX.co ★ Daily analysis of USDX for November 14, 2014

On the daily chart, the USDX has had no significant changes in the current trend. For now, the USDX remains above the support level of 87.35, where this instrument is forming a bullish pattern. The next upside target on the road, it would be the resistance level of 88.63. However, the USDX could make a breakout at the support level of 87.35 and fall to the level of 86.20.

Dailychart's resistance levels: 88.63 / 90.40

Dailychart's support levels: 87.35 / 86.20

The USDX could not overcome the resistance offered by the level of 87.86 on the H1 chart. However, the USDX is trying to enhance a breakout at that level for up to the resistance level of 88.15. In the short term, the USDX is very close to the 200-day moving average. The MACD indicator remains in the neutral territory.

H1 chart's resistance levels: 87.86 / 88.15

H1 chart's support levels: 87.58 / 87.28

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 87.86, take profit is at 88.15, and stop loss is at 87.56.