DXY resumes the upside and retargets 110.00. (Pivot Orderbook analysis)
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- DXY resumes the upside and retargets 110.00.
- The lack of direction could extend until the FOMC event.
The pair currently trades last at 109.82.
The previous day high was 110.18 while the previous day low was 109.48. The daily 38.2% Fib levels comes at 109.75, expected to provide support. Similarly, the daily 61.8% fib level is at 109.91, expected to provide resistance.
DXY leaves behind two daily pullbacks in a row and refocuses the attention to the 110.00 region on Tuesday.
Despite the ongoing consolidation, the dollar’s short-term bullish view remains unchanged while above the 7-month support line near 106.60. Against that, extra side-lined trading could extend further ahead of the FOMC event on Wednesday, although another bull run to the YTD peak around 110.80 remains well on the cards for the time being.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.80.
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.82 at the time of writing. Pair opened at 109.6 and is trading with a change of 0.2 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.82 |
| 1 | Today Daily Change | 55.00 |
| 2 | Today Daily Change % | 0.20 |
| 3 | Today daily open | 109.60 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 109.27, 50 SMA 107.8, 100 SMA @ 105.85 and 200 SMA @ 101.75.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 109.27 |
| 1 | Daily SMA50 | 107.80 |
| 2 | Daily SMA100 | 105.85 |
| 3 | Daily SMA200 | 101.75 |
The previous day high was 110.18 while the previous day low was 109.48. The daily 38.2% Fib levels comes at 109.75, expected to provide support. Similarly, the daily 61.8% fib level is at 109.91, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 109.32, 109.05, 108.63
- Pivot resistance is noted at 110.02, 110.45, 110.72
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 110.18 |
| Previous Daily Low | 109.48 |
| Previous Weekly High | 110.26 |
| Previous Weekly Low | 107.67 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 109.75 |
| Daily Fibonacci 61.8% | 109.91 |
| Daily Pivot Point S1 | 109.32 |
| Daily Pivot Point S2 | 109.05 |
| Daily Pivot Point S3 | 108.63 |
| Daily Pivot Point R1 | 110.02 |
| Daily Pivot Point R2 | 110.45 |
| Daily Pivot Point R3 | 110.72 |
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