Daily chart: The USDX continues to find support on the 200-day moving average, so our hypothesis that the USDX try to climb to the resistance level of 81.50 remains standing. However, a consolidation below the 200 SMA, could lead the USDX to fall to the support level of 80.62 and possibly to the 80.11 level. The MACD indicator remains in positive territory.
H4 chart: During yesterday's session, the USDX made no significant changes since the USDX remained above the 200 SMA and above the support level of 80.99. A breakout on the resistance level of 81.39, could lead the USDX has up to the level of 81.80, which is located one bullish trend line. The MACD indicator is still in negative territory.
H1 chart: The USDX found dynamic support on the moving average of 200, so it is very likely that this bullish rebound extends above the resistance level of 81.09, having as main objective the level of 81.19. Furthermore, if the USDX breaks the support level of 80.93, it's expected to fall to the level of 80.73. The MACD indicator is in negative territory.
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 81.09, take profit is at 81.19, and stop loss is at 81.00.
