Published: 2025-01-13T13:43:03.000Z
Chart USD Index DXY Update: Extending pressure on 110.00
Senior Technical Strategist
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Little change, as prices extend cautious trade around congestion resistance at 110.00
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 113.00 | * | Sep-Oct 2022 congestion | S1 | 109.00 | * | congestion | |
| R3 | 112.00 | ** | break level | S2 | 108.50 | minor break level | ||
| R2 | 111.20 | ** | 76.4% ret of 2022-2023 fall | S3 | 108.00 | pivot | ||
| R1 | 110.00 | ** | congestion | S4 | 107.50 | intraday break level |
Asterisk denotes strength of level
13:20 GMT - Little change, as prices extend cautious trade around congestion resistance at 110.00. Intraday studies are turning down, unwinding overbought areas, suggesting potential for a minor pullback. But rising daily readings and positive weekly charts are expected to limit scope in renewed buying interest towards congestion support at 109.00. In the coming sessions, a test above 110.00 is possible. But already overbought weekly stochastics are expected to limit September gains in profit-taking/consolidation beneath the 111.20 Fibonacci retracement.