Published: 2024-12-18T13:58:56.000Z
Chart USD Index DXY Update: Further consolidation - limited scope above 107.00
Senior Technical Strategist
1
Little change, as mixed intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 109.00 | ** | 61.8% ret of 2022-2023 fall | S1 | 106.50 | ** | congestion | |
| R3 | 108.00/07 | * | figure; 22 Nov YTD high | S2 | 106.00 | * | break level | |
| R2 | 107.50 | intraday break level | S3 | 105.50 | * | congestion | ||
| R1 | 107.00 | * | break level | S4 | 105.00 | ** | congestion |
Asterisk denotes strength of level
13:50 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation around resistance at 107.00. Daily readings continue to rise, suggesting potential for a test above here towards 107.50. But mixed/negative weekly charts are expected to prompt renewed selling interest towards here. Meanwhile, support remains at congestion around 106.50. A later break will add weight to sentiment and prompt a pullback, initially to support at the 106.00 break level.