FX.co ★ Daily analysis of USDX for October 19, 2016

The US dollar index still struggles to consolidate above the psychological level of 98.00. CPI data from the United States was a weak catalyst to deliver more bulls in the short term. The 200 SMA on the H1 chart remains untouched, so the index will attempt another break higher at the 98.00 level. If it succeeds in doing this, then it can cling towards the 98.53 price zone.

H1 chart's resistance levels: 98.01 / 98.53

H1 chart's support levels: 97.71 / 97.15

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 98.01, take profit is at 98.53 and stop loss is at 97.49.