Chart USD Index DXY Update: Extending gains
Anticipated gains have reached 100.82
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.10 | ** | 61.8% ret of Mar-Apr fall | S1 | 100.00 | ** | congestion | |
| R3 | 102.00 | ** | break level | S2 | 99.00 | break level | ||
| R2 | 101.30 | ** | 50% ret of Mar-Apr fall | S3 | 98.00 | * | congestion | |
| R1 | 101.00 | * | break level | S4 | 97.70 | * | Feb-Mar 2022 break level |
Asterisk denotes strength of level
11:05 BST - Anticipated gains have reached 100.82, where unwinding overbought intraday studies are prompting short-term reactions. Daily readings and oversold weekly stochastics continue to track higher, highlighting room for further strength in the coming sessions, with focus to turn to resistance at the 101.00 break level. Still higher is the 101.30 Fibonacci retracement, but already overbought daily stochastics are expected to limit any initial tests of this 101.00/30 range in consolidation/profit-taking. Meanwhile, support is raised to congestion around 100.00. A close beneath here will turn sentiment neutral and give way to consolidation/range extension above 99.00.