28.07.201505:24 Forex Analysis & Reviews: Technical analysis of USDX for July 28, 2015

Core durable orders rose for the second time this year.

Ahead of the FOMC meeting regarding the interest rate hike, views widely spread.

Pacific Investment Management Company (PIMCO): expect the Fed to raise its interest rates gradually in late 2015.

Deutsche Bank strategist Dominic Konstam said that the market showed "concerns over the Fed's policy failures," yield curve flattening, and decline in the stock markets and commodities is evidence, based on the dollar the Fed's rate hike, "is to bring down inflation effect" ; the Fed's first rate hike will be postponed until 2016 because of "the risk of a premature rate hike far outweigh the risk of waiting."

HSBC: Federal Reserve closer to raising interest rates, a stronger dollar, low inflation, China and India weak demand for physical gold and other factors bear drag gold.

Ahead of tomorrow's FOMC meeting, investors took profits on recent dollar gains. Though the US Dollar Index managed to breach the previous swing high, it was unable to sustain at higher levels. The index closed below the 20Dsma at yesterday's session.

Technical view: The 50Dsma is found at 96.00 and 100Dema is seen at 95.60. Intraday support is found at 96.10 and 96.00. The weekly support is found at 96.30 (yesterday's low).On an intraday basis, if bulls lose the level of 96.00, the index is likely to drag towards 95.70 and 95.20. It is likely to close above 95.60 by the end of the day. Until the Index closes above 95.60, buyers will have the upper hand.