Published: 2025-05-08T10:02:09.000Z
Chart USD Index DXY Update: Higher in range - studies improving
Senior Technical Strategist
1
Cautious trade is giving way to a test higher
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.00 | ** | break level | S1 | 99.00 | break level | ||
| R3 | 101.00 | * | break level | S2 | 98.00 | * | congestion | |
| R2 | 100.16 | ** | 27 Sep 2024 (y) low | S3 | 97.70 | * | Feb-Mar 2022 break level | |
| R1 | 100.00 | ** | congestion | S4 | 96.50 | * | congestion |
Asterisk denotes strength of level
10:45 BST - Cautious trade is giving way to a test higher, as intraday studies improve, with prices currently extending pressure on resistance within congestion around 100.00 and the 100.16 year low of 27 September 2024. Daily studies are rising and oversold weekly stochastics are also turning higher, highlighting room for further strength in the coming sessions. A close above here will turn sentiment positive and extend late-April gains initially towards 101.00. Meanwhile, support remains down to 99.00 and should continue to underpin any immediate tests lower.