On the H1 chart, the USDX has been trading above the support level of 99.25, and the resistance level of 99.80 seems to be the closest level in the upside road. A consolidation above it will push the index higher towards the key zone around 100.25. However, we cannot discard a pullback at current levels, because the USDX is looking for a way to fall until the level of 99.25. The MACD indicator is entering the negative territory.
H1 chart's resistance levels: 99.80 / 100.25
H1 chart's support levels: 99.25 / 98.31
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 99.80, take profit is at 100.25, and stop loss is at 99.37.
