Daily chart: The USDX has managed to climb to the 200 day moving average near the level of 81.05 and now the USDX is making a bearish rebound. It is very likely that this is a corrective bullish trend in favor of the current trend, since the mid-term target is the resistance level of 81.50, so the USDX is forming a lower high pattern. However, if the USDX manages to break the support level of 80.62, it's expected to fall to the level of 80.11. The MACD indicator is in positive territory.
H4 chart: The USDX has formed a fractal near the level of 81.15. If the USDX manages to break the support level of 80.83, it's expected to fall to the level of 80.85. On the other hand, if the USDX manages to break the resistance level of 80.99, would be expected to rise again to the level of 81.29. The MACD indicator is entering negative territory.
H1 chart: The USDX has found resistance at the level of 81.09 and there, the USDX formed two fractals. Now, the USDX is falling below the resistance level of 80.93 and is very likely to fall to the support level of 80.73. If the USDX manages to break this support level, would be expected to fall below the 200 day moving average near the level of 80.59. The MACD indicator is in negative territory.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks a bearish candlestick; the support level is at 80.73, take profit is at 80.59, and stop loss is at 80.87.В
