DXY remains under pressure and adds to Thursday’s losses. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• DXY remains under pressure and adds to Thursday’s losses.
• There is decent contention around the March lows near 103.50.

The pair currently trades last at 104.19.

The previous day high was 104.77 while the previous day low was 104.2. The daily 38.2% Fib levels comes at 104.42, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.55, expected to provide resistance.

DXY keeps the bearish tone well and sound in the second half of the week.

Further loss of momentum could prompt the dollar to revisit the area of recent lows near 103.50, which appears propped up by the temporary 55-day SMA. South from here, the index could challenge the weekly low at 102.58 (February 14).

Looking at the broader picture, while below the 200-day SMA (106.64), the outlook for the greenback is expected to remain negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 104.19 at the time of writing. Pair opened at 104.45 and is trading with a change of -0.25 % .

The pair is trading below its 20 Daily moving average @ 104.59, above its 50 Daily moving average @ 103.45 , below its 100 Daily moving average @ 104.4 and below its 200 Daily moving average @ 106.84

The previous day high was 104.77 while the previous day low was 104.2. The daily 38.2% Fib levels comes at 104.42, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.55, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 104.18, 103.9, 103.61
• Pivot resistance is noted at 104.75, 105.04, 105.32

[/s2If]
Join Our Telegram Group