Published: 2026-05-07T07:59:32.000Z
Chart USD Index DXY Update: Studies under pressure
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The test of support at the 97.63 monthly low of 17 April is giving way to consolidation
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.50 | * | congestion | S1 | 97.63 | ** | 17 Apr (m) low | |
| R3 | 99.00/18 | ** | congestion; 8 Apr high | S2 | 97.50 | ** | congestion; 61.8% ret | |
| R2 | 98.50 | * | congestion | S3 | 97.00 | ** | congestion | |
| R1 | 98.00 | * | congestion | S4 | 96.75 | ** | 76.4% ret of Jan-Mar rally |
Asterisk denotes strength of level
08:50 BST - The test of support at the 97.63 monthly low of 17 April is giving way to consolidation, with prices currently balanced around congestion resistance at 98.00. Daily readings are bearish and broader weekly charts are also under pressure, highlighting room for further losses in the coming sessions. A close below 97.63 will turn sentiment negative and extend late-March losses below 97.50 towards congestion around 97.00. Meanwhile, a close above 98.00 would help to stabilise sentiment and prompt consolidation beneath further congestion around 98.50.