Published: 2025-05-12T07:56:36.000Z
Chart USD Index DXY Update: Extending April gains
Senior Technical Strategist
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Cautious trade is giving way to fresh gains
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 103.10 | ** | 76.4% ret of Mar-Apr fall | S1 | 101.00 | * | break level | |
| R3 | 102.50 | * | congestion | S2 | 100.00 | ** | congestion | |
| R2 | 102.10 | ** | 61.8% ret of Mar-Apr fall | S3 | 99.00 | break level | ||
| R1 | 102.00 | ** | break level | S4 | 98.00 | * | congestion |
Asterisk denotes strength of level
08:50 BST - Cautious trade is giving way to fresh gains, with prices currently trading around 101.65. Intraday studies are positive and daily readings continue to rise, highlighting room for continuation of April gains towards resistance at the 102.00 break level and the 102.10 Fibonacci retracement. Already overbought daily stochastics could limit any initial tests in consolidation, before rising weekly charts prompt a break and open up congestion around 102.50. Meanwhile, support is raised to 101.00. An unexpected close beneath here will turn sentiment neutral and give way to consolidation above congestion around 100.00.