FX.co ★ Daily analysis of USDX for April 07, 2016

The H1 chart bias remains unchanged and the 200 SMA is still pointing to the downside. However, the demand zone around the 94.40 level is very strong and pushing higher towards the 94.85 level. In the short-term, we may expect some declines, so the USDX could test the 93.95 level. The MACD indicator is still supporting the downside scenario.

H1 chart's resistance levels: 94.85 / 95.12

H1 chart's support levels: 94.40 / 93.95

Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 94.40, take profit is at 93.95, and stop loss is at 94.85.