Chart USD Index DXY Update: Cautious trade
Little change, as prices extend cautious trade within the tight 100.65/85 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 101.80 | * | 24 Jun YTD high | S1 | 100.35 | * | 15 Jul (w) low | |
| R3 | 101.50 | intraday break level | S2 | 100.20 | ** | 38.2% ret of Apr-Jun rally | ||
| R2 | 101.33 | * | 13 Jul (w) high | S3 | 100.00 | ** | congestion | |
| R1 | 101.00 | ** | congestion base | S4 | 99.70 | ** | 50% ret of Apr-Jun rally |
Asterisk denotes strength of level
09:00 BST - Little change, as prices extend cautious trade within the tight 100.65/85 range. Intraday studies are under pressure and the daily Tension Indicator is bearish, highlighting room for a pullback towards support at the 100.35 weekly low of 15 July. But a tick higher in oversold daily stochastics and mixed weekly charts should limit any tests in fresh consolidation. A close beneath here, however, will open up the 100.20 Fibonacci retracement, with a further break beneath here extending late-June losses below 100.00. Meanwhile, resistance is at congestion around 101.00. A break above here should give way to consolidation beneath the 101.33 weekly high of 13 July.