The USDX had a bearish trend during Tuesday's session, after a decline below the 200 SMA on the H1 chart. Currently, the support zone is placed around the 98.14 level, where a rebound can happen towards the resistance level of 98.66. However, we should prefer to stay sideways, as the Index is trapped inside a very volatile territory. The MACD indicator remains positive.
H1 chart's resistance levels: 98.66 / 99.19
H1 chart's support levels: 98.14 / 97.16
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 98.66, take profit is at 99.19, and stop loss is at 98.14.
