DXY fades Wednesday’s retracement and flirts with 110.00. (Pivot Orderbook analysis)
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- DXY fades Wednesday’s retracement and flirts with 110.00.
- Extra upside could see the 2022 high near 110.80 revisited.
The pair currently trades last at 109.72.
The previous day high was 110.05 while the previous day low was 109.27. The daily 38.2% Fib levels comes at 109.57, expected to provide support. Similarly, the daily 61.8% fib level is at 109.75, expected to provide resistance.
DXY trades with decent gains in the vicinity of the 110.00 mark, leaving behind the previous day’s decline.
The dollar manages well to keep the trade in the upper end of the recent range and its short-term bullish view remains unchanged while above the 7-month support line around 106.30.
That said, the surpass of the 110.00 neighbourhood should put the index en route to a probable visit to the YTD top at 110.78 (September 7).
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.60.
Technical Levels: Supports and Resistances
EURUSD currently trading at 109.72 at the time of writing. Pair opened at 109.64 and is trading with a change of 0.07 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 109.72 |
| 1 | Today Daily Change | 39.00 |
| 2 | Today Daily Change % | 0.07 |
| 3 | Today daily open | 109.64 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 109.11, 50 SMA 107.67, 100 SMA @ 105.67 and 200 SMA @ 101.55.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 109.11 |
| 1 | Daily SMA50 | 107.67 |
| 2 | Daily SMA100 | 105.67 |
| 3 | Daily SMA200 | 101.55 |
The previous day high was 110.05 while the previous day low was 109.27. The daily 38.2% Fib levels comes at 109.57, expected to provide support. Similarly, the daily 61.8% fib level is at 109.75, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 109.26, 108.88, 108.48
- Pivot resistance is noted at 110.03, 110.43, 110.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 110.05 |
| Previous Daily Low | 109.27 |
| Previous Weekly High | 110.79 |
| Previous Weekly Low | 108.36 |
| Previous Monthly High | 109.48 |
| Previous Monthly Low | 104.64 |
| Daily Fibonacci 38.2% | 109.57 |
| Daily Fibonacci 61.8% | 109.75 |
| Daily Pivot Point S1 | 109.26 |
| Daily Pivot Point S2 | 108.88 |
| Daily Pivot Point S3 | 108.48 |
| Daily Pivot Point R1 | 110.03 |
| Daily Pivot Point R2 | 110.43 |
| Daily Pivot Point R3 | 110.81 |
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