FX.co ★ Daily analysis of USDX for October 15, 2014

The USDX remains above the support level of 85.18, because this instrument made a rebound above that level during the session. Now, the USDX is trying to touch the resistance level of 86.20, where the USDX has formed a fractal again. However, we must remember that the USDX is currently forming a higher high pattern in the daily chart. The MACD indicator remains in negative territory.

Dailychart's resistance levels: 86.20 – 87.35

Dailychart's support levels: 85.18 – 84.29

On the H1 chart, the USDX had a bullish momentum above the 200-day moving average, so that the next target in the upside road would be the resistance level of 85.95, which is a very bearish zone forced. If the USDX does make a breakout at that level, it would be expected to rise to the level of 86.17 during today's session.

H1 chart's resistance levels: 85.95 – 86.17

H1 chart's support levels: 85.73 – 85.49

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 85.95, take profit is at 86.17, and stop loss is at 85.74.