The index remains within a range bound theme around 102.00. (Pivot Orderbook analysis)
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- The index remains within a range bound theme around 102.00.
- Bullish attempts face immediate hurdle near the 103.00 mark.
The pair currently trades last at 102.03.
The previous day high was 102.44 while the previous day low was 101.72. The daily 38.2% Fib levels comes at 101.99, expected to provide support. Similarly, the daily 61.8% fib level is at 102.16, expected to provide resistance.
DXY extends the side-lined mood for yet another day near the 102.00 zone on Wednesday.
Further range bound should not be ruled out for the time being. In case bears regain the upper hand, the index could then slip further back and revisit the so far 2023 low at 101.52 (January 18) ahead of the May 2022 low around 101.30 (May 30), all before the psychological 100.00 yardstick.
On the upside, the so far weekly high at 102.89 (January 18) is expected to offer initial resistance.
In the meantime, while below the 200-day SMA at 106.46 the outlook for the index should remain tilted to the negative side.
Technical Levels: Supports and Resistances
EURUSD currently trading at 102.03 at the time of writing. Pair opened at 101.91 and is trading with a change of 0.12 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 102.03 |
| 1 | Today Daily Change | 34.00 |
| 2 | Today Daily Change % | 0.12 |
| 3 | Today daily open | 101.91 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 103.15, 50 SMA 104.26, 100 SMA @ 107.37 and 200 SMA @ 106.77.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.15 |
| 1 | Daily SMA50 | 104.26 |
| 2 | Daily SMA100 | 107.37 |
| 3 | Daily SMA200 | 106.77 |
The previous day high was 102.44 while the previous day low was 101.72. The daily 38.2% Fib levels comes at 101.99, expected to provide support. Similarly, the daily 61.8% fib level is at 102.16, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 101.61, 101.31, 100.89
- Pivot resistance is noted at 102.32, 102.74, 103.04
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 102.44 |
| Previous Daily Low | 101.72 |
| Previous Weekly High | 102.90 |
| Previous Weekly Low | 101.51 |
| Previous Monthly High | 106.02 |
| Previous Monthly Low | 103.39 |
| Daily Fibonacci 38.2% | 101.99 |
| Daily Fibonacci 61.8% | 102.16 |
| Daily Pivot Point S1 | 101.61 |
| Daily Pivot Point S2 | 101.31 |
| Daily Pivot Point S3 | 100.89 |
| Daily Pivot Point R1 | 102.32 |
| Daily Pivot Point R2 | 102.74 |
| Daily Pivot Point R3 | 103.04 |
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