Chart USD Index DXY Update: Extending consolidation above 2025 year lows
Little change, as prices extend cautious trade above strong support at the 96.38 current year low of 1 July
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.50 | congestion | S1 | 96.50 | * | congestion | ||
| R3 | 99.00 | break level | S2 | 96.38 | * | 1 Jul YTD low | ||
| R2 | 98.00 | * | congestion | S3 | 96.00 | ** | congestion | |
| R1 | 97.60 | * | 12 Jun (w) low | S4 | 95.25 | ** | 76.4% ret of 2021-2022 rally |
Asterisk denotes strength of level
09:10 BST - Little change, as prices extend cautious trade above strong support at the 96.38 current year low of 1 July. Intraday studies are under pressure, suggesting room for a pullback from current levels. But rising daily readings are expected to limit initial scope in renewed buying interest above 96.38, before bearish longer-term charts prompt a break. A later close beneath here will add weight to sentiment and open up congestion around 96.00, with room for extension of September 2022 losses towards the 95.25 Fibonacci retracement. Meanwhile, resistance remains at the 97.60 weekly low of 12 June and extends to congestion around 98.00. A close above here, if seen, will help to stabilise price action and give way to consolidation beneath 99.00.