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

The index remains supported by the 97.12 level, ahead of the US NFP due today. Currently, USDX is trying to take a rest, following days of losses across the board, but a rebound above it can happen if the NFP number comes above the expectations. However, if the index manages to break lower, the next hurdle would be the 96.47 level.

H1 chart's resistance levels: 97.62 / 98.01

H1 chart's support levels: 97.12 / 96.47

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 97.12, take profit is at 96.47 and stop loss is at 97.75.