Chart USD Index DXY Update: Consolidating losses
Steady selling interest from the 100.54 high of 29 May has met buying interest above support at 99.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.10 | ** | 61.8% ret of Mar-Apr fall | S1 | 99.00 | break level | ||
| R3 | 102.00 | ** | break level | S2 | 98.70~ | 26 May low | ||
| R2 | 101.00 | * | break level | S3 | 98.00 | * | congestion | |
| R1 | 100.00 | ** | congestion | S4 | 97.70 | * | early-Mar 22 (w) low |
Asterisk denotes strength of level
10:45 BST - Steady selling interest from the 100.54 high of 29 May has met buying interest above support at 99.00, with prices currently trading around 99.60. Oversold daily stochastics are unwinding, highlighting room for continuation towards congestion resistance at 100.00. But a tick lower in the daily Tension Indicator and mixed/negative weekly charts are expected to prompt renewed selling interest around here. Following cautious trade, fresh losses are looked for. A later break below 99.00 and the 98.70~ low of 26 May will add weight to sentiment and open up a test of critical support at the 97.70 weekly low of early-March 2022 and congestion around 98.00.