FX.co ★ Daily analysis of USDX for October 12, 2016

USDX posted another bullish session with a strong consolidation above the 97.00 psychological level. Now it's facing the resistance zone at 97.71, where a breakout should deliver more buyers' force towards the 98.48 level. However, if the index manages to do a pullback and breaks the 97.36 level, then it can extend decline to the 96.74 level.

H1 chart's resistance levels: 97.71 / 98.48

H1 chart's support levels: 97.36 / 96.74

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 97.71, take profit is at 98.48 and stop loss is at 96.94.