Chart USD Index DXY Update: Room for lower
Anticipated losses have reached support at the 98.30 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | ** | congestion | S1 | 98.30 | ** | 50% ret of Sep-Nov rally | |
| R3 | 99.50 | * | break level | S2 | 98.00 | * | congestion | |
| R2 | 99.00 | * | congestion | S3 | 97.80 | ** | 61.8% ret of Sep-Nov rally | |
| R1 | 98.50 | * | congestion | S4 | 97.50 | congestion |
Asterisk denotes strength of level
09:00 GMT - Anticipated losses have reached support at the 98.30 Fibonacci retracement, where rising intraday studies are prompting fresh consolidation. Daily readings continue to track lower and broader weekly charts are under pressure, highlighting a bearish tone and room for further losses in the coming sessions. A break beneath will add weight to sentiment and extend late-November losses towards the 97.80 retracement and congestion around 98.00. Already oversold daily stochastics could prompt short-covering/consolidation within here. Meanwhile, resistance is lowered to congestion around 988.50. A close back above here would help to stabilise price action and prompt consolidation beneath further congestion around 99.00.