FX.co ★ Daily analysis of USDX for June 06, 2016

USDX reacted negatively to the worse-than-expected NFP numbers released in the United States last Friday, and now it's already trading far below the 200 SMA on the H1 chart, favoring the bearish scenario on a short and mid-term basis. Support can be found around the 93.89 level, where a breakout should happen for another decline toward the 93.50 level.

H1 chart's resistance levels: 94.30 / 94.62

H1 chart's support levels: 93.89 / 93.50

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 93.89, take profit is at 93.50, and stop loss is at 94.28.