Chart USD Index DXY Update: Room for a minor test lower
Little change, as mixed/negative intraday studies keep near-term sentiment cautious
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.26 | ** | 1 Aug (m) high | S1 | 98.50 | congestion | ||
| R3 | 100.00 | ** | congestion | S2 | 98.00 | * | congestion | |
| R2 | 99.56 | ** | 9 Oct (w) high | S3 | 97.50 | * | congestion | |
| R1 | 99.00 | * | congestion | S4 | 97.00 | * | congestion |
Asterisk denotes strength of level
09:05 GMT - Little change, as mixed/negative intraday studies keep near-term sentiment cautious and extend consolidation beneath congestion resistance at 99.00. Both daily stochastics and the daily Tension Indicator are turning down, highlighting room for a test of congestion support at 98.50. But rising weekly charts should limit any deeper losses in renewed buying interest/consolidation above 98.00. Meanwhile, a close above 99.00 will help to improve sentiment. But a further close above stronger resistance at the 99.56 weekly high of 9 October is needed to turn sentiment positive and extend mid-September gains towards 100.00/26.