USD Index DXY: Possible pullback before prices continue higher
The test of the 93.44 Fibonacci retracement and congestion around 93.50 is giving way to a short-term pullback, whilst intraday studies track lower and overbought daily stochastics turn down. Congestion support at 93.00 is under pressure, but the rising Tension Indicator and improving weekly charts should limit any break to fresh consolidation above 92.50. Following corrective trade, fresh gains are looked for, with a later close above 93.44/50 confirming continuation of January gains towards 94.00.
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