Published: 2024-04-26T13:14:12.000Z
Chart USD Index DXY Update: Drifting lower
Senior Technical Strategist
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Cautious trade has met buying interest around 105.40
Levels | Imp | Comment | Levels | Imp | Comment | |||
---|---|---|---|---|---|---|---|---|
R4 | 107.35 | ** | 3 Oct 2023 (y) high | S1 | 105.40 | intraday low | ||
R3 | 107.15 | ** | 50% ret of Sep-Jul fall | S2 | 105.00 | ** | break level | |
R2 | 106.50 | * | congestion | S3 | 104.50 | break level | ||
R1 | 106.00 | * | congestion | S4 | 104.00 | * | congestion |
Asterisk denotes strength of level
13:55 BST - Cautious trade has met buying interest around 105.40, as intraday studies track higher, with prices once again extending cautious trade. Daily readings continue to track lower, pointing to room for further losses in the coming sessions. However, rising weekly charts should limit any initial tests of strong support at 105.00 in renewed consolidation. Meanwhile, resistance remains at congestion around 106.00. A close above here, if seen, will turn price action neutral and prompt consolidation beneath further congestion around 106.50.