DXY gives away part of the strong gains recorded on Wednesday. (Pivot Orderbook analysis)
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- DXY gives away part of the strong gains recorded on Wednesday.
- The continuation of the range bound theme looks likely.
The pair currently trades last at 111.34.
The previous day high was 111.74 while the previous day low was 110.09. The daily 38.2% Fib levels comes at 111.11, expected to provide support. Similarly, the daily 61.8% fib level is at 110.72, expected to provide support.
DXY trades on the defensive and returns to the low-111.00s on Thursday.
Despite the ongoing correction, the index could move into a consolidative phase in the next hours ahead of the key Nonfarm Payrolls due on Friday.
In the meantime, the breach of the 110.00 yardstick should open the door to a probable visit to the weekly low at 109.35 (September 20), while the YTD high near 114.80 emerges as the big magnet for bulls.
The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 107.50.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 102.75.
Technical Levels: Supports and Resistances
EURUSD currently trading at 111.34 at the time of writing. Pair opened at 111.2 and is trading with a change of 0.13 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 111.34 |
| 1 | Today Daily Change | 65.00 |
| 2 | Today Daily Change % | 0.13 |
| 3 | Today daily open | 111.20 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 111.14, 50 SMA 109.07, 100 SMA @ 106.94 and 200 SMA @ 102.78.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 111.14 |
| 1 | Daily SMA50 | 109.07 |
| 2 | Daily SMA100 | 106.94 |
| 3 | Daily SMA200 | 102.78 |
The previous day high was 111.74 while the previous day low was 110.09. The daily 38.2% Fib levels comes at 111.11, expected to provide support. Similarly, the daily 61.8% fib level is at 110.72, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 110.28, 109.36, 108.63
- Pivot resistance is noted at 111.93, 112.66, 113.57
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 111.74 |
| Previous Daily Low | 110.09 |
| Previous Weekly High | 114.78 |
| Previous Weekly Low | 111.57 |
| Previous Monthly High | 114.78 |
| Previous Monthly Low | 107.67 |
| Daily Fibonacci 38.2% | 111.11 |
| Daily Fibonacci 61.8% | 110.72 |
| Daily Pivot Point S1 | 110.28 |
| Daily Pivot Point S2 | 109.36 |
| Daily Pivot Point S3 | 108.63 |
| Daily Pivot Point R1 | 111.93 |
| Daily Pivot Point R2 | 112.66 |
| Daily Pivot Point R3 | 113.57 |
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