FX.co ★ Daily analysis of USDX for January 16, 2017

The index is still suffering from the USD weakness across the board, as Trump's rhetoric isn't helping to give a clearer path to the greenback in the short-term. However, USDX is supported by the 100.80 level and if that area gives up, we can expect a decline toward the 100.00 level, where a strong rebound could happen, but bear in mind that zone could act as a key pivot. To the upside, we can find a resistance around 101.76.

H1 chart's resistance levels: 102.29 / 102.81

H1 chart's support levels: 100.80 / 100.01

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 100.80, take profit is at 100.01 and stop loss is at 101.58.