Chart USD Index DXY Update: Poised for further gains
14
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.
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