Published: 2025-12-17T09:19:02.000Z
Chart USD Index DXY Update: Sharp bounce from 97.80/00
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The test of support at the 97.80 Fibonacci retracement and congestion around 98.00 has bounced smartly
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | ** | congestion | S1 | 98.00 | * | congestion | |
| R3 | 99.50 | * | break level | S2 | 97.80 | ** | 61.8% ret of Sep-Nov rally | |
| R2 | 99.00 | * | congestion | S3 | 97.50 | congestion | ||
| R1 | 98.50 | * | congestion | S4 | 97.20 | ** | 76.4% ret of Sep-Nov rally |
Asterisk denotes strength of level
09:10 GMT - The test of support at the 97.80 Fibonacci retracement and congestion around 98.00 has bounced smartly, as oversold intraday studies unwind, with prices currently trading around congestion resistance at 98.50. A break above here will open up further congestion around 99.00. But mixed/negative daily readings and falling weekly charts are expected to limit any tests in renewed selling interest/consolidation. Following corrective trade, fresh losses are looked for. But a break below 97.80/00 is needed to turn sentiment negative and extend late-November losses towards congestion around 97.50.