Chart USD Index DXY Update: Consolidating
Still little change
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.50 | ** | 15 Jan (m) high, cong | S1 | 97.50 | ** | congestion | |
| R3 | 99.00 | ** | congestion | S2 | 97.00 | * | congestion | |
| R2 | 98.50 | * | congestion | S3 | 96.50 | * | 11 Feb (w) low | |
| R1 | 98.00 | * | congestion | S4 | 96.35 | congestion |
Asterisk denotes strength of level
08:50 GMT - Still little change, as prices extend cautious trade within the 97.50 - 98.00 range. Intraday studies are under pressure and overbought daily stochastics are turning down, suggesting room for a drift lower towards congestion support at 97.50. However, the rising daily Tension Indicator and improving weekly charts should limit any initial tests in renewed consolidation. A close beneath here, however, will add weight to sentiment and extend losses towards further congestion around 97.00, where fresh buying interest is looked for. Meanwhile, resistance remains at congestion around 98.00. A break above here will open up a test of further congestion around 98.50. However, deteriorating longer-term readings should limit any tests in renewed selling interest/consolidation.