The USD DXY Index continues to find difficulty sustaining higher levels, as resistance firms at the 102.26 high of 2 March.
The anticipated corrective pullback is now underway, as daily studies extend lower, with a break below congestion around 101.00 opening up the 100.41 low of 16 February. A further break cannot be ruled out, as momentum studies and the Tension Indicator continue to weaken, but critical support at the 99.23 monthly low of 2 February and 99.27, (38.2%) Fibonacci retracement of the 2016-2017 rally should underpin immediate tests.
If broken, however, a deeper reaction will be confirmed, as the January bear trend gains traction and investors move to a negative stance.
An unexpected close above 102.26 is needed to confirm further USD gains, and open up fresh gains towards the 102.70/75 area.
The anticipated corrective pullback is now underway, as daily studies extend lower, with a break below congestion around 101.00 opening up the 100.41 low of 16 February. A further break cannot be ruled out, as momentum studies and the Tension Indicator continue to weaken, but critical support at the 99.23 monthly low of 2 February and 99.27, (38.2%) Fibonacci retracement of the 2016-2017 rally should underpin immediate tests.
If broken, however, a deeper reaction will be confirmed, as the January bear trend gains traction and investors move to a negative stance.
An unexpected close above 102.26 is needed to confirm further USD gains, and open up fresh gains towards the 102.70/75 area.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.