Chart USD Index DXY Update: Leaning lower
Little change, as mixed intraday studies keep near-term sentiment cautious
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 104.80 | ** | 30 Jul (m) high | S1 | 103.00 | ** | congestion | |
R3 | 104.70 | ** | 76.4% ret of Jun-Sep fall | S2 | 102.50 | ** | congestion | |
R2 | 104.00 | * | congestion | S3 | 102.00 | * | congestion | |
R1 | 103.85 | ** | 61.8% ret of Jun-Sep fall | S4 | 101.50 | break level |
Asterisk denotes strength of level
13:35 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around 103.50. Overbought daily stochastics are turning down and the positive daily Tension Indicator is flattening, suggesting a deterioration in sentiment and room for fresh losses in the coming sessions towards congestion support at 103.00. A break, if seen, will open up further congestion around 102.50, but rising weekly charts should prompt renewed buying interest towards here. Meanwhile, a close above 103.85/00, not yet seen, will turn sentiment positive and confirm continuation of September gains towards the 104.70 retracement.