DXY surrenders part of Wednesday’s sharp uptick north of 105.00. (Pivot Orderbook analysis)

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• DXY surrenders part of Wednesday’s sharp uptick north of 105.00.
• The March low near 103.50 should hold the downside so far.

The pair currently trades last at 104.41.

The previous day high was 105.11 while the previous day low was 103.44. The daily 38.2% Fib levels comes at 104.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.08, expected to provide support.

DXY gives away some of Wednesday’s sharp gains and retreats to the 104.50 region on Thursday.

If bulls regain the upper hand, then the index could dispute the so far 2023 high at 105.88 (March 8) in the short-term horizon ahead of the key 200-day SMA, today at 106.64.

Looking at the broader picture, while below the 200-day SMA, the outlook for the greenback is expected to remain negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 104.41 at the time of writing. Pair opened at 104.75 and is trading with a change of -0.32 % .

The pair is trading below its 20 Daily moving average @ 104.57, above its 50 Daily moving average @ 103.46 , below its 100 Daily moving average @ 104.43 and below its 200 Daily moving average @ 106.84

The previous day high was 105.11 while the previous day low was 103.44. The daily 38.2% Fib levels comes at 104.47, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.08, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 103.76, 102.77, 102.1
• Pivot resistance is noted at 105.43, 106.1, 107.09

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