Chart USD Index DXY Update: Under pressure
Consolidating at the 99.00 level but pressure building on the downside and threatens break of the 98.77 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 101.00 | * | congestion | S1 | 98.56 | * | 28 Oct low | |
| R3 | 100.40 | ** | 21 Nov high | S2 | 98.00 | ** | April low, congestion | |
| R2 | 100.00 | * | congestion | S3 | 97.46 | * | 1 Oct low | |
| R1 | 99.50 | * | congestion | S4 | 97.20 | * | congestion |
Asterisk denotes strength of level
06:10 GMT - Consolidating at the 99.00 level but pressure building on the downside and threatens break of the 98.77 low to extend pullback from the November high. Break of the 99.00 level confirms a double top at the 100.36/100.40 highs and see room for deeper pullback to retrace gains from the 96.22, September YTD low. Lower will see room for extension to the 98.56 support then 98.00, April low and congestion area. Break of these will return focus to the downside for retest of 97.20/97.00 area. Meanwhile, resistance at the 99.50/100.00 congestion area is expected to cap and sustain losses from the 100.40 high.