The index extends the corrective upside beyond 102.00. (Pivot Orderbook analysis)

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• The index extends the corrective upside beyond 102.00.
• The breakout of the 102.90 region could lend extra legs to the index.

The pair currently trades last at 102.31.

The previous day high was 102.32 while the previous day low was 101.66. The daily 38.2% Fib levels comes at 102.07, expected to provide support. Similarly, the daily 61.8% fib level is at 101.91, expected to provide support.

DXY advances for the fourth consecutive session well north of the 102.00 hurdle on Tuesday.

Further recovery faces the immediate hurdle at the 3-month resistance line around 102.90. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA at 104.22.

Below this line, the dollar is expected to keep the short-term bearish bias unchanged.

In the longer run, while below the 200-day SMA at 106.47, the outlook for the index remains negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 102.31 at the time of writing. Pair opened at 102.23 and is trading with a change of 0.08 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 102.75, 50 SMA 103.93, 100 SMA @ 106.91 and 200 SMA @ 106.73.

The previous day high was 102.32 while the previous day low was 101.66. The daily 38.2% Fib levels comes at 102.07, expected to provide support. Similarly, the daily 61.8% fib level is at 101.91, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 101.82, 101.42, 101.17
• Pivot resistance is noted at 102.48, 102.72, 103.13

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