FX.co ★ Daily analysis of USDX for July 08, 2016

USDX is hovering around the 200 SMA ahead of the US NFP release that is scheduled during the American session. Currently, a resistance can be found at the 96.60 level, where a breakout should happen in order to test the 97.74 level. In the bearish scenario, a breakout below the 95.89 level can open the doors to reach the 95.20 level.

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.