The index remains well under pressure following the FOMC meeting. (Pivot Orderbook analysis)
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- The index remains well under pressure following the FOMC meeting.
- There is interim support near 100.80 so far, or 10-month lows.
The pair currently trades last at 101.1.
The previous day high was 102.19 while the previous day low was 101.04. The daily 38.2% Fib levels comes at 101.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 101.75, expected to provide resistance.
DXY comes under extra selling pressure in the wake of the Fed’s decision on rates and retests the 100.80 region, or multi-month lows on Thursday.
In the near term, further losses appear in the pipeline while below the 3-month resistance line near 102.45. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA, today at 104.02.
Below this line, the dollar is expected to keep the short-term bearish bias unchanged and with the immediate target at the psychological 100.00 support.
In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 101.1 at the time of writing. Pair opened at 101.15 and is trading with a change of -0.05 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 101.10 |
| 1 | Today Daily Change | 44.00 |
| 2 | Today Daily Change % | -0.05 |
| 3 | Today daily open | 101.15 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 102.46, 50 SMA 103.72, 100 SMA @ 106.7 and 200 SMA @ 106.7.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 102.46 |
| 1 | Daily SMA50 | 103.72 |
| 2 | Daily SMA100 | 106.70 |
| 3 | Daily SMA200 | 106.70 |
The previous day high was 102.19 while the previous day low was 101.04. The daily 38.2% Fib levels comes at 101.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 101.75, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 100.73, 100.31, 99.57
- Pivot resistance is noted at 101.88, 102.61, 103.03
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 102.19 |
| Previous Daily Low | 101.04 |
| Previous Weekly High | 102.44 |
| Previous Weekly Low | 101.50 |
| Previous Monthly High | 105.63 |
| Previous Monthly Low | 101.50 |
| Daily Fibonacci 38.2% | 101.47 |
| Daily Fibonacci 61.8% | 101.75 |
| Daily Pivot Point S1 | 100.73 |
| Daily Pivot Point S2 | 100.31 |
| Daily Pivot Point S3 | 99.57 |
| Daily Pivot Point R1 | 101.88 |
| Daily Pivot Point R2 | 102.61 |
| Daily Pivot Point R3 | 103.03 |
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