FX.co ★ Daily analysis of USDX for December 28, 2015

The bias is very bearish on the H1 chart and the USDX seems to be very active in the bearish trend, as the 200 SMA offered a strong dynamic resistance during the last week. Currently, a bottom can be found around the level of 97.86, where a breakout lower will expose the index to test a low of 97.66 in a short-term basis. The MACD indicator is in the neutral territory.

H1 chart's resistance levels: 98.14 / 98.66

H1 chart's support levels: 97.86 / 97.66

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX breaks current levels with a bearish candlestick; the support level is found at 97.86, take profit is at 97.66, and stop loss is at 98.05.