DXY regains the upside and advances past the 102.00 yardstick. (Pivot Orderbook analysis)

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• DXY regains the upside and advances past the 102.00 yardstick.
• Extra consolidation around 102.00 seems likely in the short term.

The pair currently trades last at 102.1.

The previous day high was 102.14 while the previous day low was 101.64. The daily 38.2% Fib levels comes at 101.83, expected to provide support. Similarly, the daily 61.8% fib level is at 101.95, expected to provide support.

DXY fades Tuesday’s downtick and reclaims the area above the 102.00 mark on Wednesday.

The index so far keeps the erratic performance this week. The resumption of the uptrend should face initial hurdle at the April high just above 103.00 (April 3), while bouts of weakness remain underpinned by the sub-101.00 region.

Looking at the broader picture, while below the 200-day SMA, today at 106.27, the outlook for the index is expected to remain negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 102.1 at the time of writing. Pair opened at 101.74 and is trading with a change of 0.35 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 102.16, 50 SMA 103.4, 100 SMA @ 103.48 and 200 SMA @ 106.33.

The previous day high was 102.14 while the previous day low was 101.64. The daily 38.2% Fib levels comes at 101.83, expected to provide support. Similarly, the daily 61.8% fib level is at 101.95, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 101.54, 101.34, 101.04
• Pivot resistance is noted at 102.04, 102.34, 102.54

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