Technical Analysis of the U.S. Dollar Index

The U.S. Dollar Index is moving in an upward trend on the 4-hour timeframe. Prices rebounded higher from the WFVG zone around the 98.90 level, which represents a significant buying area. This rebound has supported the continuation of the bullish corrective move. Currently, prices are trading around 99.37, and therefore further upside is expected during today's session.

Key Economic News

The U.S. dollar is awaiting the release of the ADP Employment Change data and the ISM Services Purchasing Managers' Index (PMI) later today.

Liquidity Levels

We expect prices to continue rising and target the 99.54 level, followed by the next liquidity zone at 99.72.

The bullish scenario will be invalidated if prices revisit the 99.02 level.