FX.co ★ Daily analysis of USDX for May 18, 2017

The index is extending its losses in the short term, as it tested the key support zone of 97.50 where bulls are trying to take a rest. If USDX breaks below there, then the doors could be opened to reach the next target placed around 96.90. Overall, the bearish outlook remains valid and corrective moves may happen, but limited by the 98.11 level.

H1 chart's resistance levels: 98.11 / 98.55

H1 chart's support levels: 97.50 / 96.90

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 97.50, take profit is at 96.90 and stop loss is at 98.10.