Published: 2025-08-20T08:21:58.000Z
Chart USD Index DXY Update: Potential for a minor test higher
Senior Technical Strategist
2
Cautious trade has given way to a drift higher to congestion resistance at 98.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.65 | ** | 76.4% ret of May-Jul fall | S1 | 98.00 | * | congestion | |
| R3 | 100.00 | ** | congestion | S2 | 97.50 | * | congestion | |
| R2 | 99.00 | * | break level | S3 | 97.00 | * | congestion | |
| R1 | 98.50 | congestion | S4 | 96.50 | congestion |
Asterisk denotes strength of level
09:05 BST - Cautious trade has given way to a drift higher to congestion resistance at 98.50, where unwinding overbought intraday studies are prompting short-term reactions. Oversold daily stochastics are unwinding and the flat daily Tension Indicator is turning higher, highlighting room for a test above here. Focus will then turn to 99.00. But a tick lower in overbought weekly stochastics is expected to limit any initial tests in consolidation. Meanwhile, support remains at congestion around 98.00. A break beneath here, if seen, will open up further congestion around 97.50, where renewed consolidation is looked for.