Technical Analysis of the US Dollar Index
The US Dollar Index is moving in an upward trend on the four-hour and one-hour timeframes. Currently, price is trading around the 98.25 level, which represents an OB zone and a key buying area for the US Dollar. A bullish reaction is expected from this level. It is also preferable to wait for price to move above 98.37 before initiating buy positions on the US Dollar.
Key Economic News
There are no major economic news events affecting the US Dollar today, so the market is expected to be relatively calm.
Liquidity Levels
We expect prices to rise and target 98.57, followed by the next liquidity levels at 98.84, then 99.18.
The bullish scenario will be invalidated if price reaches 98.13.
