Published: 2024-10-29T14:00:06.000Z
Chart USD Index DXY Update: Consolidating beneath strong resistance at 104.70/80
Senior Technical Strategist
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Little change, as prices extend cautious trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 105.50 | * | break level | S1 | 104.00 | * | congestion | |
| R3 | 105.00 | ** | break level | S2 | 103.40 | break level | ||
| R2 | 104.80 | ** | 30 Jul (m) high | S3 | 103.00 | ** | congestion | |
| R1 | 104.70 | ** | 76.4% ret of Jun-Sep fall | S4 | 102.50 | ** | congestion |
Asterisk denotes strength of level
13:45 BST - Little change, as prices extend cautious trade beneath resistance at the 104.70 Fibonacci retracement and the 104.80 monthly high of 30 July. Daily readings are under pressure and overbought weekly stochastics are flattening, suggesting further cautious trade. However, a close above here would turn sentiment positive and confirm continuation of September gains, as focus then turns to resistance at the 105.00 break level, ahead of 105.50. Meanwhile, support remains at congestion around 104.00. A close beneath here would add weight to sentiment and open up a fall towards the 103.40 break level.