Chart USD Index DXY Update: Edging higher
The anticipated test of strong resistance within the 99.00/18 range has met selling interest at 99.10
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.64 | ** | 31 Mar YTD high | S1 | 98.50 | * | congestion | |
| R3 | 100.00 | ** | congestion | S2 | 98.00 | ** | congestion | |
| R2 | 99.50 | * | congestion | S3 | 97.63 | * | 17 Apr (w) low | |
| R1 | 99.00/18 | ** | congestion; 8 Apr high | S4 | 97.50 | ** | congestion; 61.8% ret |
Asterisk denotes strength of level
08:50 BST - The anticipated test of strong resistance within the 99.00/18 range has met selling interest at 99.10, as overbought intraday studies unwind, with prices currently trading around 98.85. Daily readings continue to rise, highlighting room for further strength in the coming sessions. But a close above the 99.18 high of 8 April is needed to turn sentiment positive and confirm continuation of mid-April gains. Focus will then turn to congestion around 99.50, where mixed/negative weekly charts could prompt renewed selling interest. Meanwhile, support remains at congestion around 98.50, and should underpin any immediate setbacks.