Technical Analysis of the U.S. Dollar Index

The U.S. Dollar Index is moving in an upward trend on both the daily and four-hour timeframes. Prices have rebounded higher from the WFVG zone around 98.93, which represents an important buying area. This rebound is expected to support the continuation of the bullish corrective move, and therefore prices are likely to continue rising during today's session.

Key Economic News

The U.S. dollar is awaiting the release of Personal Consumption Expenditures (PCE) data, Gross Domestic Product (GDP) data, and Initial Jobless Claims data. These events are expected to impact the movement of the U.S. dollar.

Liquidity Levels

We expect prices to continue rising and target 99.56, followed by the next liquidity level at 100.30.

The bullish scenario will be invalidated if prices revisit the 98.45 level.