Chart USD Index DXY Update: Room for higher
Anticipated gains have reached resistance at 101.50, where flat overbought intraday studies are prompting short-term reactions
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 103.00 | * | congestion | S1 | 101.00 | ** | congestion | |
R3 | 102.50 | congestion | S2 | 100.16 | ** | 27 Sep YTD low | ||
R2 | 101.97/00 | ** | 3 Sep (m) high; congestion | S3 | 100.00 | ** | congestion | |
R1 | 101.50 | break level | S4 | 99.58 | ** | July 2023 (y) low |
Asterisk denotes strength of level
13:50 BST - Anticipated gains have reached resistance at 101.50, where flat overbought intraday studies are prompting short-term reactions. Daily readings continue to rise and oversold weekly stochastics are unwinding, highlighting an improvement in sentiment and room for further strength in the coming sessions. A break above 101.50 will open up critical resistance at the 101.97 monthly high of 3 September and congestion around 102.00. A close above here would confirm a significant low in place at the 100.16 current year low of 27 September and open up a test of 102.50. Meanwhile, support remains at congestion around 101.00 and should underpin any immediate setbacks. A close beneath here would turn sentiment neutral and give way to fresh consolidation above 100.00/16.