Chart USD Index DXY Update: Limited tests higher
Little change, as prices extend cautious trade within the 98.50 - 99.00 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | ** | congestion | S1 | 98.50 | * | congestion | |
| R3 | 99.68/70 | 3-9 Mar YTD high | S2 | 98.00 | * | congestion | ||
| R2 | 99.50 | ** | 15 Jan (m) high, cong | S3 | 97.50 | ** | congestion | |
| R1 | 99.00 | ** | congestion | S4 | 97.00 | * | congestion |
Asterisk denotes strength of level
08:45 GMT - Little change, as prices extend cautious trade within the 98.50 - 99.00 range. Rising intraday studies highlight room for a test above congestion resistance at 99.00. But falling daily stochastics and the bearish daily Tension Indicator should limit initial scope in renewed consolidation beneath the 99.50 - 99.68/70 range. Broader weekly charts continue to rise. But a close above the the 99.68/70 current year highs from 3-9 March is needed to turn sentiment positive and confirm continuation of late-January gains. Meanwhile, any tests below congestion support at 98.50 should give way to consolidation above further congestion around 98.00.