FX.co ★ Daily analysis of USDX for April 24, 2017

The index had a strong bearish gap opening in the week, hovering around 98.83, where is located the nearest support across the board. We might expect a rebound to take place and it could go towards the 99.28 level, where a breakout can open the doors to reach the 100.00 handle. Also, there is located a 200 SMA at H1 chart.

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.