DXY climbs to fresh highs near 112.00 before losing momentum. (Pivot Orderbook analysis)
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- DXY climbs to fresh highs near 112.00 before losing momentum.
- Further upside remains well on the cards for the dollar near term.
The pair currently trades last at 110.86.
The previous day high was 111.57 while the previous day low was 110.14. The daily 38.2% Fib levels comes at 111.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 110.68, expected to provide support.
DXY corrects lower after two consecutive daily advances, including new 20-year highs just below the 112.00 mark earlier on Thursday.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 106.80. That said, occasional bouts of weakness could be deemed as buying opportunities with the immediate target at the 2022 high at 111.81 (September 22).
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.95.
Technical Levels: Supports and Resistances
EURUSD currently trading at 110.86 at the time of writing. Pair opened at 111.37 and is trading with a change of -0.46 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 110.86 |
| 1 | Today Daily Change | 135.00 |
| 2 | Today Daily Change % | -0.46 |
| 3 | Today daily open | 111.37 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 109.5, 50 SMA 107.91, 100 SMA @ 106.01 and 200 SMA @ 101.89.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 109.50 |
| 1 | Daily SMA50 | 107.91 |
| 2 | Daily SMA100 | 106.01 |
| 3 | Daily SMA200 | 101.89 |
The previous day high was 111.57 while the previous day low was 110.14. The daily 38.2% Fib levels comes at 111.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 110.68, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 110.48, 109.59, 109.04
- Pivot resistance is noted at 111.91, 112.46, 113.35
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 111.57 |
| Previous Daily Low | 110.14 |
| Previous Weekly High | 110.26 |
| Previous Weekly Low | 107.67 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 111.02 |
| Daily Fibonacci 61.8% | 110.68 |
| Daily Pivot Point S1 | 110.48 |
| Daily Pivot Point S2 | 109.59 |
| Daily Pivot Point S3 | 109.04 |
| Daily Pivot Point R1 | 111.91 |
| Daily Pivot Point R2 | 112.46 |
| Daily Pivot Point R3 | 113.35 |
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