FX.co ★ Daily analysis of USDX for December 21, 2016

The index remains alive in the bullish bias, as it still trades around 14-year highs across the board and the H1 chart shows us that the 200 SMA is still acting as dynamic support. If USDX manages to break above the 103.98 level, it can attempt to reach as long as the 105.00 handle. However, another decline to test the 102.56 level cannot be ruled out.

H1 chart's resistance levels: 103.98 / 104.69

H1 chart's support levels: 102.56 / 101.40

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 103.98, take profit is at 104.69 and stop loss is at 103.26.