Technical Analysis of the US Dollar Index
The US Dollar Index is still moving in a sideways range on the 4-hour timeframe. Currently, prices are trading around the 97.87 level, following the formation of an IFVG zone on the daily timeframe around 97.58. Prices are expected to rise during the day.
Key Economic News:
The US Dollar is awaiting the preliminary readings for the manufacturing and services PMI, the Personal Consumption Expenditures (PCE) data, and the quarterly GDP data. These releases are expected to significantly impact the US Dollar’s movements.
Liquidity Levels:
Prices are expected to rise targeting 98.50 and then 99.48.
The bullish scenario is invalidated if prices reach 96.85.
