Daily chart: The USDX has found support at the level of 80.11 but has not yet formed a fractal, so we could not conclude with certainty whether this is a change in the current trend. However, USDX may be forming a higher low pattern over this level. If the USDX makes a breakout at the support level, it is expected to fall to the level of 79.19. The MACD indicator is in negative territory.
H4 chart: The USDX remains within the low range between the 80.15 and 80.09 levels. Note that the USDX formed a fractal near the resistance level of 80.15, but it is very likely the USDX will continue to rise as it found strong support at the level of 80.00. If the USDX manages to break the bullish trend line near the 80.22 level, it is expected to rise to the level of 80.44. The MACD indicator is in positive territory.
H1 chart: It has formed a point of control near the resistance level of 80.15. If the USDX does make a breakout at that level, it would be expected to rise to the level of 80.35. However, we must consider that the outlook remains bearish in this chart, since the USDX remains below the 200 SMA and MACD indicator is overbought.
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 80.15, take profit is at 80.35, and stop loss is at 79.96.
