Published: 2025-01-16T14:04:46.000Z
Chart USD Index DXY Update: Back in range - studies under pressure
Senior Technical Strategist
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Choppy trade has given way to consolidation above 109.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 112.00 | ** | break level | S1 | 109.00 | * | congestion | |
| R3 | 111.20 | ** | 76.4% ret of 2022-2023 fall | S2 | 108.50 | minor break level | ||
| R2 | 110.00 | ** | congestion | S3 | 108.00 | pivot | ||
| R1 | 109.50 | minor congestion | S4 | 107.80 | * | 50% ret of Dec-Jan rally |
Asterisk denotes strength of level
13:45 GMT - Choppy trade has given way to consolidation above 109.00, as intraday studies turn higher. A minor bounce towards 109.50 is possible, but negative daily readings and flattening overbought weekly stochastics are expected to limit any further strength in renewed selling interest towards 110.00. Following any corrective trade, fresh losses are looked for. A close back below 109.00 will add weight to sentiment and open up 108.50. Beneath here is 108.00.