The index gives away part of Monday’s decent advance. (Pivot Orderbook analysis)
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- The index gives away part of Monday’s decent advance.
- Extra range bound around current levels appears favoured.
The pair currently trades last at 102.4.
The previous day high was 102.56 while the previous day low was 101.77. The daily 38.2% Fib levels comes at 102.26, expected to provide support. Similarly, the daily 61.8% fib level is at 102.07, expected to provide support.
The auspicious start of the week for the greenback was short lived, as DXY sheds part of the recent gains on Tuesday.
So far, the continuation of the side-lined mood looks like the name of the game for the dollar, at least in the near term.
In case bears regain the upper hand, the loss of the January low at 101.98 (January 13) should put a potential deeper drop to the May 2022 low around 101.30 (May 30) back on the investors’ radar prior to the psychological 100.00 level. On the upside, there are no hurdles of note until the January high at 105.63 (January 6).
In the meantime, while below the 200-day SMA at 106.41 the outlook for the index should remain tilted to the negative side.
Technical Levels: Supports and Resistances
EURUSD currently trading at 102.4 at the time of writing. Pair opened at 102.36 and is trading with a change of 0.04 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 102.40 |
| 1 | Today Daily Change | 33.00 |
| 2 | Today Daily Change % | 0.04 |
| 3 | Today daily open | 102.36 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 103.78, 50 SMA 104.84, 100 SMA @ 107.89 and 200 SMA @ 106.81.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.78 |
| 1 | Daily SMA50 | 104.84 |
| 2 | Daily SMA100 | 107.89 |
| 3 | Daily SMA200 | 106.81 |
The previous day high was 102.56 while the previous day low was 101.77. The daily 38.2% Fib levels comes at 102.26, expected to provide support. Similarly, the daily 61.8% fib level is at 102.07, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 101.9, 101.44, 101.12
- Pivot resistance is noted at 102.69, 103.02, 103.48
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 102.56 |
| Previous Daily Low | 101.77 |
| Previous Weekly High | 103.95 |
| Previous Weekly Low | 101.99 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 102.26 |
| Daily Fibonacci 61.8% | 102.07 |
| Daily Pivot Point S1 | 101.90 |
| Daily Pivot Point S2 | 101.44 |
| Daily Pivot Point S3 | 101.12 |
| Daily Pivot Point R1 | 102.69 |
| Daily Pivot Point R2 | 103.02 |
| Daily Pivot Point R3 | 103.48 |
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