FX.co ★ Daily analysis of USDX for August 01, 2016

At H1 chart, USDX is still weak and it's doing a bearish consolidation below the 200 SMA. Currently, the Index is being supported by the 95.51 level, where a rebound can happen to reduce the oversold levels that are showing the oscillators, especially the MACD indicator. If USDX does a breakout below that support, then it can decline towards the 95.02 level.

H1 chart's resistance levels: 95.93 / 96.36

H1 chart's support levels: 95.51 / 95.02

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 95.51, take profit is at 95.02 and stop loss is at 96.01.