The US dollar index stays below the 200 SMA and looks forward to test fresh lows below the support level of 89.36. If a breakout happens below there, the greenback could be under pressure to test the 87.88 level. To the upside, a rebound should put USDX in focus to touch the resistance zone of 90.63. MACD indicator is entering the neutral territory, favoring to a sideways range.
H1 chart’s resistance levels: 90.63 / 91.75
H1 chart’s support levels: 89.36 / 87.88
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 89.36, take profit lies at 87.88 and stop loss is at 90.81.