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

The index is still supported by the 95.89 level after the FOMC minutes didn't show major announcements, but the risk to the upside is still there, as the USDX is hovering above the 200 SMA on H1 chart. Currently, a breakout above the 96.60 level will open the doors to test the 97.74 level in a first degree. MACD indicator is into the negative territory.

H1 chart's resistance levels: 96.60 / 97.74

H1 chart's support levels: 95.89 / 95.20

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 96.60, take profit is at 97.74, and stop loss is at 95.47.