FX.co ★ bryana.reichert | U.S. Dollar Index (USDX) in Forex Trading

On the 30-minute timeframe for the DXY index, the following technical picture is observed. The price is near a key horizontal support at 97.500, where a decision-making zone is currently forming between buyers and sellers. The current structure indicates a test of an important level after the previous decline. Two scenarios are possible from the current situation: - If the support at 97.500 holds, a rebound upwards and development of a corrective movement are likely. - If there is a breakthrough and a sustained move below this level, the momentum may weaken, leading to a strengthening of the downward impulse and continuation of the decline. Thus, the 97.500 level is currently a key zone for determining the further short-term direction of the index.