Daily analysis of USDX for August 24, 2016

The index performed a rebound during Tuesday's session, following a bearish Monday's session that took the USDX to test the support zone of 94.32. However, the risk to the downside is still high and one could expect a breakout below there eventually in order to reach the 94.07 level. 200 SMA on the H1 chart is slightly bearish.

H1 chart's resistance levels: 94.65 / 95.00
H1 chart's support levels: 94.32 / 94.07
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 94.32, take profit lies at 94.07 and stop loss is at 94.57.

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