Technical Analysis of the US Dollar Index
The US Dollar Index is moving in an upward trend on the one-hour and four-hour timeframes. Prices bounced higher from the IFVG zone around the 98.03 level, as mentioned in the previous report. The index is currently trading around 98.24, and prices are expected to continue rising during the day.
Key Economic News:
Today, the US Dollar Index is awaiting Existing Home Sales data and Consumer Sentiment from the University of Michigan. These data releases are expected to have a moderate impact on market movement.
Liquidity Levels:
Prices are expected to rise, targeting the 98.37 level, followed by the 98.60 level.
The bullish scenario will be invalidated if a four-hour candle closes below the 97.95 level.
