Published: 2024-08-13T12:52:01.000Z
Chart USD Index DXY Update: Leaning lower in range
Senior Technical Strategist
1
Still little change, as prices extend cautious trade above congestion support at 103.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 104.80 | ** | 30 Jul (w) high | S1 | 103.00 | ** | congestion | |
| R3 | 104.50 | break level | S2 | 102.36 | ** | 8 Mar (m) low | ||
| R2 | 104.00 | ** | congestion | S3 | 102.00 | ** | congestion, 76.4% ret of Dec-Apr rally | |
| R1 | 103.65 | * | 17-18 Jul (m) low | S4 | 101.34 | 2 Jan YTD low |
Asterix denotes strength of level
13:40 BST - Still little change, as prices extend cautious trade above congestion support at 103.00. Rising intraday studies have turned mixed/negative and daily readings are also coming under fresh pressure, highlighting increased downside risks. A break below 103.00 will add weight to sentiment and open up the 102.36 monthly low of 8 March. A further close beneath here would turn sentiment negative and extend April losses towards strong support at 102.00. Meanwhile, resistance remains up to the 103.65 monthly low of 17-18 July, and is expected to cap any immediate tests higher.