Technical Analysis of the U.S. Dollar Index
The U.S. Dollar Index is moving in a bearish trend on the 1-hour timeframe, and the price has declined from the IFVG zone around the 99.85 level, as mentioned in the previous report. The index is currently trading around 99.64, and a continuation of the downward movement is expected throughout the day.
Key Economic News
The U.S. Dollar is awaiting the Services and Manufacturing PMI data, which are expected to have a noticeable impact on price movement.
Liquidity Levels
Prices are expected to decline and target 99.25, then 98.92, and finally 98.60.
The bearish scenario is invalidated if a 1-hour candle closes above the 100.18 level.
