FX.co ★ Daily analysis of USDX for May 11, 2018

The price action in an overall view remains in favor of the bulls, despite the recent retracement seen in the index. As the resistance level of 93.42 is getting stronger, we can expect further consolidation before taking a breath to make a breakout above it. If that happens, then the greenback could rally towards the psychological level of 94.00.

H1 chart's resistance levels: 92.62 / 93.42

H1 chart's support levels: 91.86 / 90.46

Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bearish candlestick; the support level is at 92.62, take profit is at 93.42, and stop loss is at 91.84.