FX.co ★ Daily analysis of USDX for November 20, 2014

The USDX has not made significant movements affecting the current trend on the daily chart. This instrument is held above the support level of 87.25, a fairly strong area, considering that the USDX could have made a breakout of that level a couple of weeks ago. The next goal for this instrument remains the resistance level of 88.63. The MACD indicator remains in the negative territory.

Dailychart's resistance levels: 88.63 / 90.40

Daily chart's support levels: 87.35 / 86.20

On the H1 chart, the USDX has moved in a range above the 200-day moving average. So, the USDX is likely to rise again to the resistance level of 87.86. A break of that level could lead the USDX to rise to the level of 88.15. For now, 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 87.57.