Chart USD Index DXY Update: Balanced above 98.60 - studies under pressure
Little change, as prices extend cautious trade following the test of strong support at the 98.60 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | ** | congestion | S1 | 98.60 | ** | 76.4% ret of Apr-Jun rally | |
| R3 | 99.50 | ** | congestion | S2 | 97.95/00 | ** | 61.8% ret; congestion | |
| R2 | 99.20 | minor congestion | S3 | 97.63 | ** | 17 Apr - 6 May (m) lows | ||
| R1 | 99.00 | ** | congestion | S4 | 97.50 | ** | congestion |
Asterisk denotes strength of level
08:55 BST - Little change, as prices extend cautious trade following the test of strong support at the 98.60 Fibonacci retracement. Daily readings are falling and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close beneath here will add weight to sentiment and extend late-June losses towards strong support within the 97.95 retracement and congestion around 98.00.
Meanwhile, resistance remains at congestion around 99.00 and extends to 99.20. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 99.50.