FX.co ★ Daily analysis of USDX for May 31, 2018

The index made a retracement from the resistance area of 94.88, as the bulls are losing steam in the short-term, with the fundamentals not favoring to the price action in the near-term. The next key support lies at the 93.91 level, where a rebound could take place in order to go towards the resistance level of 95.53. MACD indicator remains strong in the negative territory, calling for further declines.

H1 chart's resistance levels: 94.88 / 95.53

H1 chart's support levels: 93.91 / 93.12

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 94.88, take profit is at 95.53 and stop loss is at 94.22.