Above is the hourly chart of US Dollar Index (.DXY). It plunged several hours before and started to have some rebounces after reaching the previous low.
It is currently facing the resistance given by the purple pitch-fork, though it might not be too strong.
MACD and EMA has a bullish cross, support the break of the pitch-fork resistant. It would probably get back into the fork and start moving upwards.
The top of the fork and the red pennant which it broke before will be the next obstacles. Therefore, 80 will be the next resistant. This is also a psychological resistant.
If the index could not make it way back into the fork, which is quite unlikely, it would be sliding along the bottom line of fork and reach the previous low. This is a strong support and if it breaks, then the next support level will be at 78, suggested by the daily chart.
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