Chart USD Index DXY Update: Pushed back from 97.00, but studies are rising
The anticipated test of congestion resistance at 97.50 has been pushed back to 97.05~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.00 | ** | congestion | S1 | 97.00 | * | congestion | |
| R3 | 98.50 | * | congestion | S2 | 96.50 | * | 11 Feb (w) low | |
| R2 | 98.00 | * | congestion | S3 | 96.35 | congestion | ||
| R1 | 97.50 | ** | congestion | S4 | 96.00 | * | congestion |
Asterisk denotes strength of level
08:50 GMT - The anticipated test of congestion resistance at 97.50 has been pushed back to 97.05~, where a fresh bounce is developing. The daily Tension Indicator continues to rise, highlighting room for a retest of 97.50. But flat daily stochastics and mixed/negative weekly charts are expected to limit any fresh break in renewed selling interest beneath further congestion around 98.00. Following cautious/corrective trade, fresh losses are looked for. Support remains at congestion around 97.00. But a close below the 96.50 weekly low of 11 February is needed to turn sentiment negative and extend February losses initially towards 96.00.