CommunityPublished: 2024-12-10T16:24:55.000Z
Chart USD Index DXY Update: Gains to remain limited
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The bounce from congestion support at 105.50 is extending
The bounce from congestion support at 105.50 is extending, with prices currently pressuring congestion resistance at 106.50. Intraday studies are edging higher and oversold daily stochastics are flattening, suggesting potential for a test above here. But the negative daily Tension Indicator and deteriorating weekly charts should limit scope in renewed selling interest beneath the 107.00 break level. Following corrective gains, fresh losses are looked for. A later break back below 106.00 will add weight to sentiment. But a further close below congestion support at 105.50 is needed to turn sentiment negative and extend November losses initially to further congestion around 105.00.
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