Daily chart: During yesterday's session, the USDX experienced some falls below the 200-day moving average, and it is very likely to fall to support at the 80.62 level in coming hours. If the USDX manages to break that level, it is expected to fall to the level of 80.11. On the other hand, if the USDX executes a bullish rebound at the support level, the USDX is expected to rise to the resistance level of 81.50. The MACD indicator is entering extremely overbought zone and in neutral territory.
H4 chart: The USDX is below the resistance level at 80.87. If the USDX manages to break the support at the 80.75 level, it is expected to fall to the level of 80.65. For now, the current levels in this chart show enough support and resistance levels that could curb the USDX's fall. However, if the USDX manages to break the resistance level of 80.94, it would be expected to rise to the level of 81.35. The MACD indicator remains in negative territory.
H1 chart: The USDX is forming a higher low pattern below the resistance level of 80.93 and below the SMA 200. If the USDX achieves in breaking the support at the 80.73 level, it would be expected to drop to the level of 80.59. On the other hand, if the USDX breaks the resistance at the 80.93 level, it would be expected to rise to the level of 81.09. The MACD indicator remains in negative territory and is entering extremely oversold zone.
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 80.73, take profit is at 80.59, and stop loss is at 80.87.