Chart USD Index DXY Update: Under pressure
The break below 98.00 has met anticipated support at congestion around 97.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.00 | ** | congestion | S1 | 97.50 | * | congestion | |
| R3 | 99.00 | * | break level | S2 | 97.00 | * | congestion | |
| R2 | 98.50 | congestion | S3 | 96.38 | ** | 1 Jul YTD low | ||
| R1 | 98.00 | * | congestion | S4 | 96.00 | * | historic congestion |
Asterisk denotes strength of level
09:05 BST - The break below 98.00 has met anticipated support at congestion around 97.50. Subsequent choppy trade has been pushed back from below 98.00, as intraday studies turn mixed/negative, with prices currently trading around 97.60. Daily readings have turned down, highlighting room for a break below 97.50 towards further congestion around 97.00. But mixed weekly charts are expected to limit any initial continuation beneath here in consolidation above critical support at the 96.38 current year low of 1 July. Meanwhile, a break back above congestion resistance at 98.00, if seen, should give way to consolidation beneath further congestion around 98.00.