FX.co ★ Daily analysis of USDX for December 09, 2016

USDX is consolidating gains above the 200 SMA, following a very bullish session it had during Thursday. We should note that the index managed to break above the resistance level of 100.93 and it's expected to extend its current bias toward the 101.56 level. If USDX does a breakout above that bullish target, we can expect further gains until the psychological zone of 102.00.

H1 chart's resistance levels: 101.56 / 101.93

H1 chart's support levels: 100.93 / 100.43

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 101.56, take profit is at 101.93 and stop loss is at 101.18.