Daily chart: The USDX had no major changes last Friday, as the USDX remains below the 200-day moving average, so the next target remains the support level of 80.11. If the USDX does make a breakout at that level, it would be expected to fall to the level of 79.19. The MACD indicator is in negative territory.
H4 chart: The USDX has made a breakout at the level of 80.34, so far, the USDX is trying to consolidate above the 200 SMA. If the USDX does make a breakout at the 80.60 level, it would be expected to rise to the level of 81.02. The MACD indicator remains in positive territory.
H1 chart: The USDX has found resistance at the 200-day moving average and now the USDX is trying to make a breakout again at the support level of 80.35. If successful, it is expected to fall to the level of 80.15. On the other hand, if the USDX does make a breakout at the level of 80.59, it's expected to rise to the level of 80.73. The MACD indicator is in negative territory.
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 80.35, take profit is at 80.15, and stop loss is at 80.54.
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