DXY climbs to new highs near 110.30 on Monday. (Pivot Orderbook analysis)
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- DXY climbs to new highs near 110.30 on Monday.
- A technical correction should not be ruled out.
The pair currently trades last at 109.85.
The previous day high was 109.72 while the previous day low was 108.93. The daily 38.2% Fib levels comes at 109.23, expected to provide support. Similarly, the daily 61.8% fib level is at 109.42, expected to provide support.
DXY extends the march north to the vicinity of 110.30, where it seems to have met some initial resistance.
The short-term bullish view in the dollar remains well in place for the time being and propped up by the 7-month support line, today around 105.70.
However, the current overbought conditions of the index could trigger some corrective downside, which should be seen as a buying opportunity.
Still on the upside, the surpass of the recent top could face the next barrier at the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.06.
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.85 at the time of writing. Pair opened at 109.6 and is trading with a change of 0.23 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.85 |
| 1 | Today Daily Change | 67.00 |
| 2 | Today Daily Change % | 0.23 |
| 3 | Today daily open | 109.60 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 107.64, 50 SMA 106.89, 100 SMA @ 104.93 and 200 SMA @ 100.95.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 107.64 |
| 1 | Daily SMA50 | 106.89 |
| 2 | Daily SMA100 | 104.93 |
| 3 | Daily SMA200 | 100.95 |
The previous day high was 109.72 while the previous day low was 108.93. The daily 38.2% Fib levels comes at 109.23, expected to provide support. Similarly, the daily 61.8% fib level is at 109.42, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 109.12, 108.63, 108.32
- Pivot resistance is noted at 109.91, 110.21, 110.7
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 109.72 |
| Previous Daily Low | 108.93 |
| Previous Weekly High | 110.00 |
| Previous Weekly Low | 108.27 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 109.23 |
| Daily Fibonacci 61.8% | 109.42 |
| Daily Pivot Point S1 | 109.12 |
| Daily Pivot Point S2 | 108.63 |
| Daily Pivot Point S3 | 108.32 |
| Daily Pivot Point R1 | 109.91 |
| Daily Pivot Point R2 | 110.21 |
| Daily Pivot Point R3 | 110.70 |
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