Chart USD Index DXY Update: Any losses to remain limited
The test below congestion support at 101.00 has bounced from 100.85~
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 102.00 | ** | congestion | S1 | 101.00 | ** | congestion | |
| R3 | 101.80 | ** | 24 Jun YTD high | S2 | 100.50 | break level | ||
| R2 | 101.65 | ** | 28 Jul (m) high | S3 | 100.00 | ** | congestion | |
| R1 | 101.50 | * | range highs | S4 | 99.50 | * | congestion |
Asterisk denotes strength of level
08:50 BST - The test below congestion support at 101.00 has bounced from 100.85~, as oversold intraday studies turn higher, with prices once again balanced above 101.00. Overbought daily stochastics are ticking lower, suggesting room for a retest beneath here. But the positive daily Tension Indicator and improving weekly charts should limit scope in renewed buying interest/consolidation above support at 100.50.
Meanwhile, resistance remains at 101.50 and extends to the 101.65 monthly high of 28 July. This range should cap any immediate tests higher. However, a close above the 101.80 current year high of 24 June, not yet seen, will turn sentiment positive and confirm continuation of broader January gains.