The greenback is still waiting to receive a strong catalyst to follow the upside bias on a short-term basis. We can spot a strong resistance around 101.43, where a breakout should deliver more bulls' strength to reach the 102.39 zone as the next target on this side of the market. However, if USDX does a pullback, it can re-test the 100.00 handle, as the MACD indicator is getting overbought.
H1 chart's resistance levels: 101.43 / 102.38
H1 chart's support levels: 100.01 / 98.98
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USD Index breaks with a bearish candlestick; the support level is at 100.01, take profit is at 98.98 and stop loss is at 101.03.
