FX.co ★ Daily analysis of USDX for May 04, 2017

The index received fresh bullish momentum after Fed's interest rate decision, as they kept rates unchanged. Now, we're seeing an attempt of consolidation above the 200 SMA at H1 chart, targeting the resistance level of 99.97 or 100.00, to finally fill the French elections' gap. However, if USDX performs a pullback, it can re-test the 99.00 handle.

H1 chart's resistance levels: 99.28 / 99.97

H1 chart's support levels: 98.83 / 98.42

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 98.83, take profit is at 98.42 and stop loss is at 99.24.