Chart USD Index DXY Update: Under pressure
Choppy trade around congestion resistance has given way to anticipated losses
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.95/00 | ** | 14 Oct YTD high; congestion | S1 | 101.50 | * | break level | |
| R3 | 102.85 | ** | 50% ret of 2025-2026 fall | S2 | 101.30 | * | 38.2% ret of Aug-Oct rally | |
| R2 | 102.50 | congestion | S3 | 101.00 | ** | congestion | ||
| R1 | 102.00 | ** | congestion | S4 | 100.75 | * | 50% ret of Aug-Oct rally |
Asterisk denotes strength of level
08:40 GMT - Choppy trade around congestion resistance has given way to anticipated losses, with prices once again pressuring support at the 101.50 break level. Daily stochastics and the daily Tension Indicator are bearish and overbought weekly stochastics are also unwinding, highlighting a deterioration in sentiment and room for fresh losses in the coming sessions. A close below 101.50 will add weight to sentiment and extend losses from the 102.95 current year high of 14 October towards the 101.30 Fibonacci retracement. A further break will open up congestion around 101.00, ahead of the 100.75 retracement.
Meanwhile, a close back above 102.00 would help to stabilise price action and prompt fresh consolidation beneath congestion around 102.50