DXY adds to Tuesday’s decline and breaches 106.00 once again. (Pivot Orderbook analysis)

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• DXY adds to Tuesday’s decline and breaches 106.00 once again.
• The next support of note now comes at the 200-day SMA near 105.00.

The pair currently trades last at 106.08.

The previous day high was 107.11 while the previous day low was 105.32. The daily 38.2% Fib levels comes at 106.0, expected to provide support. Similarly, the daily 61.8% fib level is at 106.43, expected to provide resistance.

DXY remains under pressure and maintains the trade in the area of multi-month lows around 106.00 midweek.

If the selling bias gathers extra pace, then the index could dispute the critical 200-day SMA, today at 104.94. The loss of this important support region could put a potential drop to the August low at 104.63 (August 10) back on the radar.

Below the 200-day SMA, the dollar’s outlook should shift to negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 106.08 at the time of writing. Pair opened at 106.55 and is trading with a change of -0.44 % .

The pair is trading below its 20 Daily moving average @ 109.7, below its 50 Daily moving average @ 111.08 , below its 100 Daily moving average @ 109.35 and above its 200 Daily moving average @ 105.25

The previous day high was 107.11 while the previous day low was 105.32. The daily 38.2% Fib levels comes at 106.0, expected to provide support. Similarly, the daily 61.8% fib level is at 106.43, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 105.54, 104.54, 103.75
• Pivot resistance is noted at 107.34, 108.12, 109.13

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