FX.co ★ Daily analysis of USDX for November 23, 2016

USDX still hovers in the 101 zone, while it awaits for fresh momentum to decide the next trend on a short-term basis. If the index manages to break the strong supply area of 101.74, then it can reach the 102.61 level, where an overbought scenario could start setting up across the board. 200 SMA at H1 chart remains bullish, calling for further upside.

H1 chart's resistance levels: 101.74 / 102.61

H1 chart's support levels: 100.53 / 99.39

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 101.74, take profit is at 102.61 and stop loss is at 100.87.