FX.co ★ Daily analysis of USDX for July 21, 2016

USDX is still finding resistance around the 97.27 level, where the bulls are getting weak. However, the upside momentum remains alive on the Index, and we expect further consolidation higher to test the 97.74 level on a short-term basis. However, if the USDX index does a pullback at the current stage, then it can decline towards the 96.60 level.

H1 chart's resistance levels: 97.27 / 97.74

H1 chart's support levels: 96.60 / 95.89

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 97.27, take profit is at 97.74 and stop loss is at 96.81.