On the H1 chart, the USDX is currently trading slowly and waiting for the FOMC meeting. However, if a corrective move continues to push the pair lower, then we can expect a test around the level of 96.56 on a short-term basis. The MACD indicator remains at the negative territory, and that's why we recommend to be caution when adding long orders at the current stage.
H1 chart's resistance levels: 97.16 / 97.51
H1 chart's support levels: 96.85 / 96.56
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the US dollar index breaks with a bullish candlestick; the resistance level is seen at 97.16, take profit is at 97.51, and stop loss is at 96.81.
