Technical Analysis of the US Dollar Index

The US Dollar Index is moving in a bullish trend on the four-hour timeframe. Price has formed a Fair Value Gap on the four-hour chart and bounced higher from it. Currently, prices are trading around the 96.50 level, and the US dollar is expected to continue rising during today’s session.

Major Economic News:
The US dollar is awaiting the release of the Producer Price Index data today, which is expected to have a noticeable impact on the US dollar and currencies.

Liquidity Levels:
Prices are expected to rise targeting the 97.30 level.
The bullish scenario will be invalidated if prices close below the 96.15 level on an hourly candle.