Published: 2024-12-05T05:42:49.000Z
Chart USD Index DXY Update: Leaning lower, scope to retest 105.62 low
Technical Analyst
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Leaning lower after failing to get a foothold above resistance at the 106.50 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 107.50 | * | congestion | S1 | 105.62 | * | 29 Nov low | |
| R3 | 107.35 | * | 3 Oct 2023 year high | S2 | 105.50 | * | congestion | |
| R2 | 107.00 | * | congestion | S3 | 105.05/00 | * | 38.2%, congestion | |
| R1 | 106.50 | ** | Apr high | S4 | 104.64 | ** | Oct high |
Asterisk denotes strength of level
05:40 GMT - Leaning lower after failing to get a foothold above resistance at the 106.50 resistance. Nearby see the 106.00 level now at risk and break here will expose the 105.62 low to retest. Below this will confirm a top in place at the 108.07 high and see room for deeper pullback to retrace the September/November rally to support at the 105.05/105.00, 38.2% Fibonacci retracement and congestion. Meanwhile, resistance at the 106.50/107.00 area now expected to cap. Only regaining these will fade the downside pressure and return focus to the 107.50 congestion and 108.07 high.