The index managed to hold the support zone of 98.42 and it's currently consolidating above the 200 SMA on H1 chart. The next resistance is placed around 99.28, where a breakout should open the doors to test the 99.63 level, but overall, the structure is calling for further weakness in the greenback to re-test the support level of 98.42.
H1 chart's resistance levels: 99.28 / 99.63
H1 chart's support levels: 98.77 / 98.42
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 98.77, take profit is at 98.42 and stop loss is at 99.13.
