FX.co ★ Daily analysis of USDX for January 23, 2017

USDX was dominated by the bears during Friday's session, as Trump's words didn't help to provide bullish momentum across the board. So far, the index is consolidating below the 200 SMA and it's possible to see a decline toward 100.00, where a breakout should deliver more bearish pressure. Without that move, USDX will remain trapped in a sideways range.

H1 chart's resistance levels: 101.06 / 101.76

H1 chart's support levels: 101.03 / 100.00

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 101.03, take profit is at 100.00 and stop loss is at 102.05.