Technical Analysis of the US Dollar Index

The US Dollar Index is moving in a sideways range on the four-hour timeframe. Prices successfully swept the liquidity above the 99.53 level and then declined from those levels, currently trading around 99.22. Prices have formed an important sell zone around the 99.32 level.

Prices are expected to decline during today's session to continue the sideways movement.

Key Economic News

The US Dollar is awaiting the US Initial Jobless Claims data today, which is expected to impact the movement of the US Dollar throughout the day.

Liquidity Levels

We expect prices to decline and target the 99.05 level, followed by the next liquidity level at 98.92.

The bearish scenario will be invalidated if prices revisit the 99.53 level.