Chart USD Index DXY Update: Pushing higher
The anticipated break above 101.00 has reached 101.20~, where unwinding overbought intraday studies are prompting a minor pullback
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.00 | ** | congestion | S1 | 101.00 | ** | congestion base | |
| R3 | 101.80 | ** | 24 Jun YTD high | S2 | 100.35 | * | 15 Jul (w) low | |
| R2 | 101.50 | intraday break level | S3 | 100.20 | ** | 38.2% ret of Apr-Jun rally | ||
| R1 | 101.33 | * | 13 Jul (w) high | S4 | 100.00 | ** | congestion |
Asterisk denotes strength of level
09:15 BST - The anticipated break above 101.00 has reached 101.20~, where unwinding overbought intraday studies are prompting a minor pullback into consolidation within the 101.00/20 range. Daily stochastics are rising and the flat daily Tension Indicator is also turning up, suggesting room for a test of the 101.33 weekly high of 13 July. But mixed/negative weekly charts should limit any immediate extension beyond here in consolidation within the 101.50 - 101.80 strong barrier. Meanwhile, a close back below 101.00 would turn sentiment neutral once again and give way to consolidation above the 100.35 weekly low of 15 July.