Daily chart: The USDX bounced off the support level at 81.50. It is very likely that this is the formation of a higher low pattern to continue falling. On the other hand, it is also likely that the USDX rises to the level of 81.85, where the 200-day moving average is lying, which is making dynamic resistance for the USDX. If the USDX achieves in breaking the support at the 81.50 level, it will be expected to drop to the level of 81.21. The MACD indicator is in extreme overbought and entering negative territory.
H4 chart: The USDX is forming a higher low pattern, between the 81.72 and 81.33 levels. If the USDX manages to break the support at the 81.33 level, it is expected to fall to the level of 81.19, which will hold one bullish trendline. On the other hand, if the USDX manages to break the resistance at the 81.72 level, it will be expected to rise to the level of 81.94, above the SMA 200. The MACD indicator is extremely oversold and entering positive territory.
H1 chart: The USDX found support at the level of 81.40 and it made a bullish rebound there, which led it to consolidate above the resistance at the 81.58 level. It is likely that the USDX rises to the resistance level of 81.73. If the USDX manages to break that level, it is expected to rise to the level of 82.02, above the 200-day moving average. Furthermore, if the USDX achieves in breaking the support level of 81.58, it is expected to drop to the level of 81.40. 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 81.58, take profit is at 81.40, and stop loss is at 81.78.