FX.co ★ Daily analysis of USDX for December 28, 2016

USDX remains unchanged inside the current price action, as it approaches the end of the year. The 200 SMA at H1 chart is providing the path in the short-term, as the index keeps the bullish tone above that area. We can expect a slight decline toward the support zone of 102.56, but the overall target is pointing to the upside, targeting the 103.98 level.

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.