Chart USD Index DXY Update: Leaning lower
Still little change, as prices extend consolidation following the test of support at the 99.70 Fibonacci retracement
| 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 - Still little change, as prices extend consolidation following the test of support at the 99.70 Fibonacci retracement. Rising intraday studies highlight room for a bounce towards congestion resistance at 100.00. But deteriorating daily readings and bearish weekly charts should limit any break in renewed selling interest beneath the 100.35 weekly low of 15 July. Following cautious/corrective trade, fresh losses are looked for. 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.