Chart USD Index DXY Update: Fresh year lows
Cautious trade has given way to anticipated losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.50 | congestion | S1 | 96.50 | * | congestion | ||
| R3 | 99.00 | break level | S2 | 96.00 | ** | congestion | ||
| R2 | 98.00 | * | congestion | S3 | 95.25 | ** | 76.4% ret of 2021-2022 rally | |
| R1 | 97.60 | * | 12 Jun (w) low | S4 | 95.00 | ** | congestion |
Asterisk denotes strength of level
09:05 BST - Cautious trade has given way to anticipated losses, with prices currently trading at fresh 2025 year lows around 97.10. Daily readings are negative and weekly studies are under pressure, highlighting room for further losses in the coming sessions. Focus is turning to congestion around 96.50, with a break targeting further congestion around 96.00. Continuation down to the 95.25 Fibonacci retracement cannot be ruled out. But already oversold weekly studies could limit any initial tests in consolidation. Meanwhile, resistance is up to congestion around 98.00. A close above here, if seen, will help to stabilise price action and prompt consolidation beneath 99.00.