Chart USD Index DXY Update: Cautious trade
Little change, as prices extend cautious trade around resistance at the 97.60 weekly low of 12 June
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 99.50 | congestion | S1 | 97.00 | * | congestion | ||
| R3 | 99.00 | break level | S2 | 96.50 | * | congestion | ||
| R2 | 98.00 | * | congestion | S3 | 96.38 | * | 1 Jul YTD low | |
| R1 | 97.60 | * | 12 Jun (w) low | S4 | 96.00 | ** | congestion |
Asterisk denotes strength of level
09:00 BST - Little change, as prices extend cautious trade around resistance at the 97.60 weekly low of 12 June. Intraday studies are mixed/negative, suggesting, potential for a minor test lower. But rising daily readings should limit any immediate losses in renewed buying interest above congestion support at 97.00. In the coming sessions, cautious trade is expected to give way to further gains. But a close above congestion resistance is needed to turn sentiment positive and extend July gains towards resistance at 99.00, where mixed weekly charts should prompt fresh selling interest/consolidation. Meanwhile, a break below 97.00 will open up critical support at the 96.38 current year low of 1 July, where fresh consolidation is expected to appear.