FX.co ★ Daily analysis of USDX for May 29, 2018

Despite holidays in the U.S, the index managed to gather momentum to the upside and the focus is placed at the resistance level of 94.88. The 200 SMA on H1 chart is guiding the path in the short-term and hopefully we can meet with a strong selling barrier around the above-mentioned resistance. If the 200 SMA on H1 chart gives up, then it can plummet towards the support level of 93.12.

H1 chart's resistance levels: 94.10 / 94.88

H1 chart's support levels: 93.12 / 92.33

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 94.10, take profit is at 94.88, and stop loss is at 93.30.