Chart USD Index DXY Update: Pressuring strong resistance at 100.00/26
Still little change, as prices extend consolidation within resistance at 100.00/26
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 100.65 | ** | 76.4% ret of May-Sep fall | S1 | 99.56 | ** | 9 Oct (w) high | |
| R3 | 100.54 | ** | 29 May (w) high | S2 | 99.00 | * | congestion | |
| R2 | 100.26 | ** | 1 Aug (m) high | S3 | 98.50 | * | congestion | |
| R1 | 100.00 | ** | congestion | S4 | 98.00 | * | congestion |
Asterisk denotes strength of level
09:00 GMT - Still little change, as prices extend consolidation within resistance at 100.00/26. Intraday studies are leaning lower and overbought daily stochastics are flattening, suggesting potential for a minor pullback. But the positive daily Tension Indicator and rising weekly charts should limit scope in renewed buying interest above support at the 99.56 weekly high of 9 October. Following cautious trade, fresh gains are looked for. However, a close above the 100.26 monthly high of 1 August is needed to improve sentiment and extend mid-September gains initially to the 100.54 weekly high of 29 May and the 100.65 Fibonacci retracement.