FX.co ★ Daily analysis of USDX for July 28, 2016

USDX didn't manage to consolidate above the resistance level of 97.27 and now it's being dominated by a bearish bias, following the Fed interest rate decision which leaves unchanged the overall monetary policy stance. The bears can lead the Index towards the support level of 96.60, where a rebound can happen to test again the 200 SMA at H1 chart.

H1 chart's resistance levels: 97.27 / 97.74

H1 chart's support levels: 96.92 / 96.60

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 96.92, take profit is at 97.27 and stop loss is at 96.56.