The US Dollar Index is moving within a bearish trend on both the four-hour and one-hour timeframes. Prices reversed downward from the 97.85 level, which represents a VIM zone on the daily chart. In addition, a Fair Value Gap (FVG) has formed on the one-hour chart. During today’s session, the index is expected to decline further, continuing its bearish momentum.

There are no major economic releases scheduled for today; therefore, market movement is expected to remain relatively calm.

The index is expected to decline toward 97.40, followed by 97.20, and finally 97.03.

The bearish outlook will be invalidated if the index revisits the 98.20 level.