Chart USD Index DXY Update: Lower in sharp selling interest
The anticipated break above 99.00 has met sharp selling interest around congestion resistance at 99.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.55 | * | 29 May (w) high | S1 | 98.00 | * | congestion | |
| R3 | 100.00 | ** | congestion | S2 | 97.70 | * | early-Mar 22 (w) low | |
| R2 | 99.50 | congestion | S3 | 97.60 | * | 12 Jun YTD low | ||
| R1 | 99.00 | break level | S4 | 96.50 | * | congestion |
Asterisk denotes strength of level
09:05 BST - The anticipated break above 99.00 has met sharp selling interest around congestion resistance at 99.50, with prices falling sharply to congestion support at 98.00. Intraday studies are oversold, suggesting room for consolidation around here. But daily readings have turned down and broader weekly charts have turned mixed/negative, highlighting potential for still further losses in the coming sessions. Critical support is at the 97.60 current year low of 12 June. A close beneath here will turn sentiment negative and extend September 2022 losses towards congestion around 96.50. Meanwhile, resistance remains at 99.00 and should cap any immediate tests higher.