Chart USD Index DXY Update: Poised for further gains
Choppy trade around congestion support at 99.00 has given way to a sharp run higher to resistance at 99.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.40 | ** | 21 Nov (m) high | S1 | 99.00 | ** | congestion | |
| R3 | 100.00 | ** | congestion | S2 | 98.50 | * | congestion | |
| R2 | 99.68 | 3 Mar YTD high | S3 | 98.00 | * | congestion | ||
| R1 | 99.50 | ** | 15 Jan (m) high, cong | S4 | 97.50 | ** | congestion |
Asterisk denotes strength of level
09:00 GMT - Choppy trade around congestion support at 99.00 has given way to a sharp run higher to resistance at 99.50, where mixed/positive intraday studies are prompting short-term reactions. Daily readings are turning higher once again and broader weekly charts are positive, highlighting room for further strength in the coming sessions. A break above 99.50 will target the 99.68 current year high of 30 March. A further close above here will improve sentiment and extend late-January gains initially to congestion around 100.00. Meanwhile, any immediate tests beneath 99.00 should be limited in renewed buying interest/consolidation above congestion around 98.50.