Published: 2024-12-02T06:15:25.000Z
Chart USD Index DXY Update: Turned higher in consolidation
Technical Analyst
1
Extending bounce from the 105.62 low of Friday
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 107.50 | * | congestion | S1 | 105.50 | * | congestion | |
| R3 | 107.35 | ** | 3 Oct 2023 year high | S2 | 105.05/00 | * | 38.2%, congestion | |
| R2 | 107.00 | * | congestion | S3 | 104.64 | ** | Oct high | |
| R1 | 106.50 | ** | Apr high | S4 | 104.00 | * | congestion |
Asterisk denotes strength of level
06:10 GMT - Extending bounce from the 105.62 low of Friday and regaining the 106.00 level see room for stronger gains to retest strong resistance at 106.50, April high. Bounce see prices unwinding the oversold intraday studies and lower high sought to further pressure the downside later. Break of the 105.62 low and 105.50 congestion will further extend the November losses and see room to the 105.05/105.00, 38.2% Fibonacci retracement and congestion. Break above 106.50 will clear the way for stronger bounce to the 107.00 congestion and 107.35, October 2023 year high.