Chart USD Index DXY Update: Quiet trade - studies under pressure
Little change, as prices extend quiet trade within the 99.70 - 100.00 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 101.00 | ** | congestion base | S1 | 99.70 | ** | 50% ret of Apr-Jun rally | |
| R3 | 100.75 | congestion | S2 | 99.50 | ** | congestion | ||
| R2 | 100.35 | ** | 15 Jul (w) low | S3 | 99.20 | ** | 61.8% ret of Apr-Jun rally | |
| R1 | 100.00 | ** | congestion | S4 | 99.00 | ** | congestion |
Asterisk denotes strength of level
09:05 BST - Little change, as prices extend quiet trade within the 99.70 - 100.00 range. Oversold daily stochastics are rising, suggesting room for further consolidation. But the daily Tension Indicator continues to track lower and broader weekly charts are deteriorating, highlighting potential for fresh losses in the coming sessions. A close below the 99.70 Fibonacci retracement will put focus on congestion around 99.50. Continuation beneath here will extend late-June losses towards the 99.20 retracement. Meanwhile, a close above congestion resistance at 100.00 should give way to further consolidation beneath the 100.35 weekly low of 15 July.