DXY exacerbates the losses amidst broad-based risk appetite. (Pivot Orderbook analysis)
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- DXY exacerbates the losses amidst broad-based risk appetite.
- A deeper retracement could see the weekly low at 109.35 revisited.
The pair currently trades last at 111.12.
The previous day high was 112.54 while the previous day low was 111.47. The daily 38.2% Fib levels comes at 111.88, expected to provide resistance. Similarly, the daily 61.8% fib level is at 112.13, expected to provide resistance.
DXY adds to the sour start of the week and puts the 111.00 neighbourhood to the test on Tuesday.
In the current context, the continuation of the corrective decline appears likely and with the next target at the weekly low at 109.35 (September 20). The loss of the latter could retest the interim support at the 55-day SMA at 108.61.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.20.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.60.
Technical Levels: Supports and Resistances
EURUSD currently trading at 111.12 at the time of writing. Pair opened at 111.64 and is trading with a change of -0.47 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 111.12 |
| 1 | Today Daily Change | 89.00 |
| 2 | Today Daily Change % | -0.47 |
| 3 | Today daily open | 111.64 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 111.0, 50 SMA 108.9, 100 SMA @ 106.79 and 200 SMA @ 102.63.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 111.00 |
| 1 | Daily SMA50 | 108.90 |
| 2 | Daily SMA100 | 106.79 |
| 3 | Daily SMA200 | 102.63 |
The previous day high was 112.54 while the previous day low was 111.47. The daily 38.2% Fib levels comes at 111.88, expected to provide resistance. Similarly, the daily 61.8% fib level is at 112.13, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 111.23, 110.81, 110.15
- Pivot resistance is noted at 112.3, 112.96, 113.38
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 112.54 |
| Previous Daily Low | 111.47 |
| Previous Weekly High | 114.78 |
| Previous Weekly Low | 111.57 |
| Previous Monthly High | 114.78 |
| Previous Monthly Low | 107.67 |
| Daily Fibonacci 38.2% | 111.88 |
| Daily Fibonacci 61.8% | 112.13 |
| Daily Pivot Point S1 | 111.23 |
| Daily Pivot Point S2 | 110.81 |
| Daily Pivot Point S3 | 110.15 |
| Daily Pivot Point R1 | 112.30 |
| Daily Pivot Point R2 | 112.96 |
| Daily Pivot Point R3 | 113.38 |
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