The index sheds further ground and retreats to multi-month lows. (Pivot Orderbook analysis)
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- The index sheds further ground and retreats to multi-month lows.
- Further weakness could force the dollar to test the 103.40 zone.
The pair currently trades last at 104.45.
The previous day high was 106.02 while the previous day low was 104.64. The daily 38.2% Fib levels comes at 105.17, expected to provide resistance. Similarly, the daily 61.8% fib level is at 105.49, expected to provide resistance.
DXY loses ground for the third session in a row and re-visits the 104.30 area on Friday.
The continuation of the selling pressure could motivate the dollar to accelerate losses and challenge the weekly low at 103.67 (June 27) ahead of another weekly low at 103.41 (June 16).
Below the 200-day SMA at 105.51, the dollar’s outlook should remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 104.45 at the time of writing. Pair opened at 104.7 and is trading with a change of -0.24 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 104.45 |
| 1 | Today Daily Change | 50.00 |
| 2 | Today Daily Change % | -0.24 |
| 3 | Today daily open | 104.70 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 106.48, 50 SMA 109.45, 100 SMA @ 109.21 and 200 SMA @ 106.0.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 106.48 |
| 1 | Daily SMA50 | 109.45 |
| 2 | Daily SMA100 | 109.21 |
| 3 | Daily SMA200 | 106.00 |
The previous day high was 106.02 while the previous day low was 104.64. The daily 38.2% Fib levels comes at 105.17, expected to provide resistance. Similarly, the daily 61.8% fib level is at 105.49, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 104.22, 103.73, 102.83
- Pivot resistance is noted at 105.6, 106.51, 106.99
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 106.02 |
| Previous Daily Low | 104.64 |
| Previous Weekly High | 108.00 |
| Previous Weekly Low | 105.63 |
| Previous Monthly High | 113.15 |
| Previous Monthly Low | 105.32 |
| Daily Fibonacci 38.2% | 105.17 |
| Daily Fibonacci 61.8% | 105.49 |
| Daily Pivot Point S1 | 104.22 |
| Daily Pivot Point S2 | 103.73 |
| Daily Pivot Point S3 | 102.83 |
| Daily Pivot Point R1 | 105.60 |
| Daily Pivot Point R2 | 106.51 |
| Daily Pivot Point R3 | 106.99 |
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