DXY adds to Tuesday’s pessimism and breaches 107.00. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• DXY adds to Tuesday’s pessimism and breaches 107.00.
• Extra weakness could force the index to drop to the 105.30 area.

The pair currently trades last at 107.1.

The previous day high was 107.82 while the previous day low was 107.12. The daily 38.2% Fib levels comes at 107.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 107.55, expected to provide resistance.

DXY remains offered and briefly tests the 106.80 region, or 3-day lows, on Wednesday.

In case the selling pressure accelerates, the dollar could shed further ground and dispute the November low at 105.34 (November 15). This area of contention appears underpinned by the proximity of the always relevant 200-day SMA, today at 105.22

While above the 200-day SMA, the outlook for the index should remain constructive.

Technical Levels: Supports and Resistances

EURUSD currently trading at 107.1 at the time of writing. Pair opened at 107.16 and is trading with a change of -0.06 % .

The pair is trading below its 20 Daily moving average @ 108.28, below its 50 Daily moving average @ 110.62 , below its 100 Daily moving average @ 109.29 and above its 200 Daily moving average @ 105.63

The previous day high was 107.82 while the previous day low was 107.12. The daily 38.2% Fib levels comes at 107.39, expected to provide resistance. Similarly, the daily 61.8% fib level is at 107.55, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 106.91, 106.67, 106.22
• Pivot resistance is noted at 107.61, 108.07, 108.31

[/s2If]
Join Our Telegram Group