Daily chart: The USDX met strong resistance at the 82.51 level, and now the USDX has fallen to the 200-day moving average near the 81.80 level, which found strong support. USDX is likely to drop to the level of 81.50. However, above these levels, it is likely that this high will start forming a low pattern. However, our bullish outlook for the USDX, is still alive. The MACD indicator is in extreme overbought and neutral territory, so we should be cautious.
H4 chart: The USDX is forming a higher low pattern, having broken off the support at the 81.94 level, and now the USDX is below the 200-day moving average. If the USDX manages to break the support at the 81.72 level, it is expected to fall to the level of 81.33. On the other hand, if the USDX manages to break the resistance at the 81.94 level, it will be expected to rise to the level of 82.49. The MACD indicator is in negative territory and entering the area of extreme oversold, so we should be cautious.
H1 chart: As in the 4H chart, the higher USDX is forming a low pattern below the SMA 200 and the resistance at the level of 82.02. If the USDX manages to break the support at the 81.80 level, it is expected to fall to the level of 81.58. On the other hand, if the USDX makes a bullish rebound at the current levels. it will be expected to rise again to the resistance at the 82.02 level, very close to the 200-day moving average. The MACD indicator remains in positive territory.
Trading recommendations for today: Based on the H1 chart, place sell (short) orders only if the USDX Index breaks a bearish candlestick; the support level is at 81.80, take profit is at 81.58, and stop loss is at 82.02.