Chart USD Index DXY Update: Consolidating
The anticipated test above resistance at 99.00 has met selling interest beneath congestion around 99.50
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.55 | break level | S1 | 98.35 | * | 5 Jun (w) low | ||
| R3 | 100.00 | ** | congestion | S2 | 98.00 | * | congestion | |
| R2 | 99.50 | congestion | S3 | 97.70 | * | early-Mar 22 (w) low | ||
| R1 | 99.00 | break level | S4 | 96.50 | * | congestion |
Asterisk denotes strength of level
09:00 BST - The anticipated test above resistance at 99.00 has met selling interest beneath congestion around 99.50, as overbought intraday studies unwind, with prices once again trading below 99.00. A move towards the 98.35 weekly low of 5 June is highlighted. But rising daily readings and mixed weekly charts are expected to limit any initial tests in consolidation. A close beneath here, however, will open up critical support at the 97.70 weekly low of early-March 2022 and congestion around 98.00. Meanwhile, resistance is up to 99.50. But a close above congestion around 100.00 is needed to improve sentiment and open up a test of 101.00.