FX.co ★ Daily analysis of USDX for August 10, 2016

USDX is finding dynamic support around the 200 SMA at H1 chart and it could point to the upside in coming days. We're expecting a breakout above the resistance level of 96.32, that should also open the doors to test the 96.75 level. A decline to the 95.93 level is expected and one could expect another advance to find a bottom at the 95.93 level.

H1 chart's resistance levels: 96.32 / 96.75

H1 chart's support levels: 95.93 / 95.51

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 96.32, take profit is at 96.75 and stop loss is at 95.90.