Daily chart: The USDX has made a breakout again at the resistance level of 80.11, where the USDX is trying to build a solid bullish road to consolidate above the resistance level of 80.62. If the USDX does make a breakout at that level, the next target in the long term would be the level of 81.50. The MACD indicator is in the positive territory.
H4 chart: The USDX is finding resistance at the 200-day moving average, which probably trigger a pullback and fall to the support level of 80.09, because the U.S. dollar has been very weak in recent days. However, if the USDX does make a breakout at the level of 80.24, it's expected to rise to the resistance level of 80.34. The MACD indicator is in the positive territory.
H1 chart: The USDX is consolidating above the 200 SMA and the support level of 80.15. However, the bearish outlook still remains alive because the USDX has not touched the resistance level of 80.35. If the USDX does make a breakout at the support level of 80.15, it is expected to fall to the level of 79.88.
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 80.15, take profit is at 79.88, and stop loss is at 80.42.
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