DXY adds to the weekly decline and revisits the 108.40/35 band. (Pivot Orderbook analysis)
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- DXY adds to the weekly decline and revisits the 108.40/35 band.
- A deeper drop to the 107.60 area should not be ruled out.
The pair currently trades last at 108.87.
The previous day high was 110.25 while the previous day low was 109.33. The daily 38.2% Fib levels comes at 109.9, expected to provide resistance. Similarly, the daily 61.8% fib level is at 109.68, expected to provide resistance.
DXY intensifies the weekly retracement and breaks below the key 109.00 support with certain conviction on Friday.
Despite the corrective decline, the underlying bullish view in the dollar remains unchanged. That said, the index could allow a deeper drop to, initially, the weekly low at 107.58 (August 26). The proximity of the temporary 55-day SMA, today at 107.17, also reinforces this support zone.
In the meantime, the short-term constructive perspective remains bolstered by the 7-month support line just below 106.00.
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.33.
Technical Levels: Supports and Resistances
EURUSD currently trading at 108.87 at the time of writing. Pair opened at 109.65 and is trading with a change of -0.71 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 108.87 |
| 1 | Today Daily Change | 121.00 |
| 2 | Today Daily Change % | -0.71 |
| 3 | Today daily open | 109.65 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 108.45, 50 SMA 107.32, 100 SMA @ 105.3 and 200 SMA @ 101.22.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 108.45 |
| 1 | Daily SMA50 | 107.32 |
| 2 | Daily SMA100 | 105.30 |
| 3 | Daily SMA200 | 101.22 |
The previous day high was 110.25 while the previous day low was 109.33. The daily 38.2% Fib levels comes at 109.9, expected to provide resistance. Similarly, the daily 61.8% fib level is at 109.68, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 109.24, 108.82, 108.32
- Pivot resistance is noted at 110.16, 110.66, 111.08
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 110.25 |
| Previous Daily Low | 109.33 |
| Previous Weekly High | 110.00 |
| Previous Weekly Low | 108.27 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 109.90 |
| Daily Fibonacci 61.8% | 109.68 |
| Daily Pivot Point S1 | 109.24 |
| Daily Pivot Point S2 | 108.82 |
| Daily Pivot Point S3 | 108.32 |
| Daily Pivot Point R1 | 110.16 |
| Daily Pivot Point R2 | 110.66 |
| Daily Pivot Point R3 | 111.08 |
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