Technical Analysis of the US Dollar Index
The US Dollar Index is moving within a downtrend on the weekly and four-hour timeframes, and prices have formed an IFVG zone after bouncing down from the 97.90 level. Today, the decline in the US dollar is expected to continue. The 97.50 level is expected to act as a resistance from which prices may drop.

Key Economic News
The US dollar is awaiting today’s Retail Sales data, along with Consumer Sentiment and Inflation Expectations data from the University of Michigan. These releases are likely to influence the dollar’s movements throughout the day.

Liquidity Levels
Prices are expected to decline after forming bearish price action from the 97.50 level, targeting the 97.20 level followed by the 96.70 level.

Scenario Invalidation
The bearish scenario will be invalidated if prices reach the 98.20 level.