Chart USD Index DXY Update: Consolidating
Little change, as prices extend cautious trade beneath resistance at congestion around 99.00 and the 99.18 high of 8 April
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.30 | congestion highs | S1 | 98.70 | ** | 38.2% ret of Jan-Mar rally | ||
| R3 | 100.00 | ** | congestion | S2 | 98.50 | * | congestion | |
| R2 | 99.50 | * | congestion | S3 | 98.00/10 | ** | congestion; 50% ret | |
| R1 | 99.00/18 | ** | congestion; 8 Apr high | S4 | 97.50 | ** | congestion; 61.8% ret |
Asterisk denotes strength of level
08:50 BST - Little change, as prices extend cautious trade beneath resistance at congestion around 99.00 and the 99.18 high of 8 April. Intraday studies are rising and oversold daily stochastics are flattening, suggesting room for a retest of this range. But the negative daily Tension Indicator and unwinding overbought weekly stochastics should limit any break in renewed selling interest towards congestion resistance at 99.50. Following cautious trade, fresh losses are looked for. However, a close below support at the 98.70 Fibonacci retracement is needed to add weight to sentiment and extend late-March losses below 98.50 towards 98.00/10.