DXY corrects lower and drops to multi-session lows. (Pivot Orderbook analysis)
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- DXY corrects lower and drops to multi-session lows.
- The dollar could have charted a near-term top near 110.80.
The pair currently trades last at 109.41.
The previous day high was 110.79 while the previous day low was 109.54. The daily 38.2% Fib levels comes at 110.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 110.31, expected to provide resistance.
DXY trades on the defensive for the second session in a row and extends the recent breakdown of the 110.00 mark.
The short-term bullish view in the dollar, however, remains well in place for the time being and so far bolstered by the 7-month support line just below 106.00.
Further retracement in the short-term horizon could leave the recent 20-year high near 110.80 (September 7) as an interim peak. The surpass of this area could open the door to the weekly highs at 111.90 (June 6 2002) and 113.35 (May 24 2002).
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 101.26.
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.41 at the time of writing. Pair opened at 109.57 and is trading with a change of -0.15 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.41 |
| 1 | Today Daily Change | 54.00 |
| 2 | Today Daily Change % | -0.15 |
| 3 | Today daily open | 109.57 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 108.23, 50 SMA 107.23, 100 SMA @ 105.2 and 200 SMA @ 101.16.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 108.23 |
| 1 | Daily SMA50 | 107.23 |
| 2 | Daily SMA100 | 105.20 |
| 3 | Daily SMA200 | 101.16 |
The previous day high was 110.79 while the previous day low was 109.54. The daily 38.2% Fib levels comes at 110.02, expected to provide resistance. Similarly, the daily 61.8% fib level is at 110.31, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 109.14, 108.71, 107.89
- Pivot resistance is noted at 110.39, 111.21, 111.64
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 110.79 |
| Previous Daily Low | 109.54 |
| Previous Weekly High | 110.00 |
| Previous Weekly Low | 108.27 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 110.02 |
| Daily Fibonacci 61.8% | 110.31 |
| Daily Pivot Point S1 | 109.14 |
| Daily Pivot Point S2 | 108.71 |
| Daily Pivot Point S3 | 107.89 |
| Daily Pivot Point R1 | 110.39 |
| Daily Pivot Point R2 | 111.21 |
| Daily Pivot Point R3 | 111.64 |
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