Chart USD Index DXY Update: Choppy trade - daily studies under pressure
Still little change, as mixed/positive intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.40 | ** | 21 Nov (m) high | S1 | 98.50 | * | congestion | |
| R3 | 100.00 | ** | congestion | S2 | 98.25 | 20 Jan low | ||
| R2 | 99.50 | * | break level | S3 | 98.00 | * | congestion | |
| R1 | 99.00 | * | congestion | S4 | 97.80 | ** | 61.8% ret of Sep-Nov rally |
Asterisk denotes strength of level
09:05 GMT - Still little change, as mixed/positive intraday studies keep near-term sentiment cautious and extend choppy trade within 98.50 - 99.00. Daily stochastics are falling and the daily Tension Indicator is under pressure, highlighting room for fresh tests lower in the coming sessions. A break back below congestion support at 98.50 will open up 98.25. But mixed weekly charts should limit any initial continuation beneath here in consolidation above strong support at congestion around 98.00 and the 97.80 Fibonacci retracement. Meanwhile, resistance remains at congestion around 99.00. A close above here, if seen, will help to stabilise price action and give way to consolidation beneath 99.50.