Chartbook: Chart USD Index DXY: Choppy in range - 97.50 and 101.80 the next directional levels

Anticipated gains posted a fresh 2026 year high at 101.80, before falling back into consolidation within the tight 98.50 - 100.00 range.

Prices are posting a fresh test higher, with the positive monthly Tension Indicator highlighting room for continuation back to the 101.80 current year high of 24 June.

However, monthly stochastics are flat in overbought areas, suggesting any immediate tests could be limited in fresh consolidation. A close above 101.80, however, will improve sentiment and confirm continuation of gains from the 95.55 current year low of January. Focus will then turn to the 102.85 Fibonacci retracement, with stronger resistance at the 104.60 - 105.00 range thereafter.

Meanwhile, support is at the 98.50 range lows,

and extends to further congestion lows around 97.50.

Oversold weekly stochastics are unwinding and the bearish weekly Tension Indicator is flattening, suggesting any tests of this range should be limited in fresh consolidation.

A break, if seen, will add weight to sentiment and put focus on critical support at the 95.55 current year low of 27 January.