Published: 2025-05-14T10:04:53.000Z
Chart USD Index DXY Update: Leaning lower
Senior Technical Strategist
2
Cautious trade is giving way to further losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.50 | * | congestion | S1 | 100.00 | ** | congestion | |
| R3 | 102.10 | ** | 61.8% ret of Mar-Apr fall | S2 | 99.00 | break level | ||
| R2 | 102.00 | ** | break level | S3 | 98.00 | * | congestion | |
| R1 | 101.00 | * | break level | S4 | 97.70 | * | early-Mar 22 (w) low |
Asterisk denotes strength of level
10:40 BST - Cautious trade is giving way to further losses, with the break below 101.00 adding weight to sentiment and reaching 100.30. Overbought daily stochastics are turning down, highlighting room for a test of congestion support at 100.00. But the rising daily Tension Indicator and improving weekly charts are expected to limit any initial break in renewed consolidation above support at 99.00. Meanwhile, a close back above 101.00 would help to stabilise price action. But a further close above 102.00/10 is needed to turn sentiment positive once again and extend April gains initially to congestion around 102.50.