FX.co ★ Daily analysis of USDX for August 04, 2016

The index recovered during yesterday's session, as it's approaching the resistance zone of 95.51. Remind that a breakout above it can open the doors to test the 95.93 level, where the 200 SMA is located. However, our view is still bearish and a pullback at this stage is possible and can lead the USDX to reach once again the support level of 95.02.

H1 chart's resistance levels: 95.51 / 95.93

H1 chart's support levels: 95.02 / 94.73

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 95.02, take profit is at 94.72 and stop loss is at 95.32.