On H1 chart, USDX is trying to do another bearish consolidation below the 200 SMA, but it seems the bullish outlook remains alive, at least during the Christmas's week. However, that scenario should be invalidated when a breakout happens around the 98.14 level, which would deliver a push lower towards the 97.86 level. MACD indicator is entering oversold conditions.
H1 chart's resistance levels: 98.66 / 99.19
H1 chart's support levels: 98.14 / 97.16
Trading recommendations for today: Based on the H1 chart, place buy (long) orders only if the USD Index breaks with a bullish candlestick; the resistance level is at 98.66, take profit is at 99.19, and stop loss is at 98.14.
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