FX.co ★ Daily analysis of USDX for January 15, 2016

On the H1 chart, we should note that the bullish path is alive above the 200 SMA, and the price action is showing strength of bulls. One scenario is calling for a breakout above the level of 99.22, but we can still expect a sideways move here until the index re-tests the support zone of 98.79 in coming days. The MACD indicator is at the positive territory.

H1 chart's resistance levels: 99.22 / 99.49

H1 chart's support levels: 98.79 / 98.39

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USDX breaks with a bullish candlestick; the resistance level is seen at 99.22, take profit is at 99.49, and stop loss is at 98.94.