Published: 2024-12-03T06:30:32.000Z
Chart USD Index DXY Update: Extending gains from 105.62 low
Technical Analyst
2
Extending bounce from the 105.62 low of Friday to reach strong resistance at 106.50, April high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 107.50 | * | congestion | S1 | 105.62 | * | 29 Nov low | |
| R3 | 107.35 | ** | 3 Oct 2023 year high | S2 | 105.50 | * | congestion | |
| R2 | 107.00 | * | congestion | S3 | 105.05/00 | * | 38.2%, congestion | |
| R1 | 106.50 | ** | Apr high | S4 | 104.64 | ** | Oct high |
Asterisk denotes strength of level
06:25 GMT - Extending bounce from the 105.62 low of Friday to reach strong resistance at 106.50, April high. Bounce see prices unwinding the oversold intraday studies and higher will see room to 107.00/107.35 congestion and 2023 year high. However, gains are seen corrective and lower high sought to pressure the downside later. Break of the 106.00 level will expose support at the 105.62 low and 105.50 congestion to extend the November losses and see room to the 105.05/105.00, 38.2% Fibonacci retracement and congestion.