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Continuum_Economics
Jan 22, 2021 4:07 PM

Chart USD Index DXY Update: Short-term ranging. Lower later Short

U.S. Dollar Currency IndexTVC

Description

The test of congestion around 90.00 has given way to a short-term corrective bounce, whilst oversold intraday studies unwind.
Focus is turning to 90.50, but negative stochastics and the deteriorating Tension Indicator suggest difficulty sustaining any immediate tests/break. In the coming sessions, consolidation is expected to give way to further losses, with a later close below 90.00 opening up critical support at 89.21/23. Improving weekly charts should prompt fresh consolidation above here.
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