DXY comes under heavy downside pressure and approaches 104.00. (Pivot Orderbook analysis)
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- DXY comes under heavy downside pressure and approaches 104.00.
- Further weakness should leave the 105.30 region as a near-term top.
The pair currently trades last at 104.27.
The previous day high was 105.0 while the previous day low was 104.41. The daily 38.2% Fib levels comes at 104.78, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.64, expected to provide resistance.
DXY gives away around a cent following the earlier bullish attempt to the area just above 105.00 the figure on Wednesday.
The dollar needs to clear the February peak at 105.35 (February 27) to allow for the recovery to dispute the 2023 top at 105.63 (January 6). Failing to do so, the dollar could spark a deeper pullback and thus leave the 105.30 region as an interim top for the time being.
In the longer run, while below the 200-day SMA at 106.50, the outlook for the index remains negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 104.27 at the time of writing. Pair opened at 104.99 and is trading with a change of -0.69 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 104.27 |
| 1 | Today Daily Change | 100.00 |
| 2 | Today Daily Change % | -0.69 |
| 3 | Today daily open | 104.99 |
The pair is trading above its 20 Daily moving average @ 103.68, above its 50 Daily moving average @ 103.35 , below its 100 Daily moving average @ 105.14 and below its 200 Daily moving average @ 106.83
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.68 |
| 1 | Daily SMA50 | 103.35 |
| 2 | Daily SMA100 | 105.14 |
| 3 | Daily SMA200 | 106.83 |
The previous day high was 105.0 while the previous day low was 104.41. The daily 38.2% Fib levels comes at 104.78, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.64, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 104.6, 104.21, 104.01
- Pivot resistance is noted at 105.19, 105.39, 105.78
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 105.00 |
| Previous Daily Low | 104.41 |
| Previous Weekly High | 105.32 |
| Previous Weekly Low | 103.76 |
| Previous Monthly High | 105.36 |
| Previous Monthly Low | 100.81 |
| Daily Fibonacci 38.2% | 104.78 |
| Daily Fibonacci 61.8% | 104.64 |
| Daily Pivot Point S1 | 104.60 |
| Daily Pivot Point S2 | 104.21 |
| Daily Pivot Point S3 | 104.01 |
| Daily Pivot Point R1 | 105.19 |
| Daily Pivot Point R2 | 105.39 |
| Daily Pivot Point R3 | 105.78 |
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