Published: 2025-06-18T08:22:09.000Z
Chart USD Index DXY Update: Room for a corrective test higher
Senior Technical Strategist
2
Cautious trade has given way to a minor bounce
| 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
09:00 BST - Cautious trade has given way to a minor bounce, with prices turning back from beneath resistance at 99.00 as overbought intraday studies unwind. Daily readings have ticked higher and bearish weekly charts are flattening, suggesting room for a test above here towards congestion around 99.50. But negative longer-term readings are expected to limit any tests in renewed selling interest. Following corrective trade, fresh losses are looked for. Support remains at congestion around 98.00. But a close below 97.60/70 is needed to turn sentiment negative and confirm continuation of September 2022 losses, initially towards 96.50.