FX.co ★ Daily analysis of USDX for March 08, 2017

The index is trying to gather enough bullish momentum in order to break above the resistance zone of 102.39. If that happens, bulls should produce a rally to test the 103.40 level in the short-term. However, if USDX plummets at the current stage and breaks below yesterday's lows, it can reach the 100.44 level across the board.

H1 chart's resistance levels: 102.39 / 103.40

H1 chart's support levels: 101.39 / 100.44

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 102.39, take profit is at 103.40 and stop loss is at 101.35.