DXY accelerates losses and briefly pierces the 110.00 mark. (Pivot Orderbook analysis)
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- DXY accelerates losses and briefly pierces the 110.00 mark.
- A deeper correction could see the 108.40 region revisited.
The pair currently trades last at 110.24.
The previous day high was 112.13 while the previous day low was 110.76. The daily 38.2% Fib levels comes at 111.28, expected to provide resistance. Similarly, the daily 61.8% fib level is at 111.61, expected to provide resistance.
DXY drops for the second session in a row and prints new multi-week lows in the sub-110.00 region on Wednesday.
The loss of 110.00 could force the index to retarget the 8-month support line near 108.40, an area coincident with the 100-day SMA. Below this zone, the downside pressure in the dollar is predicted to gather extra steam.
In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 103.93.
Technical Levels: Supports and Resistances
EURUSD currently trading at 110.24 at the time of writing. Pair opened at 110.89 and is trading with a change of -0.59 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 110.24 |
| 1 | Today Daily Change | 120.00 |
| 2 | Today Daily Change % | -0.59 |
| 3 | Today daily open | 110.89 |
The pair is trading below its 20 Daily moving average @ 112.25, below its 50 Daily moving average @ 110.87 , above its 100 Daily moving average @ 108.4 and above its 200 Daily moving average @ 103.96
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 112.25 |
| 1 | Daily SMA50 | 110.87 |
| 2 | Daily SMA100 | 108.40 |
| 3 | Daily SMA200 | 103.96 |
The previous day high was 112.13 while the previous day low was 110.76. The daily 38.2% Fib levels comes at 111.28, expected to provide resistance. Similarly, the daily 61.8% fib level is at 111.61, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 110.39, 109.89, 109.02
- Pivot resistance is noted at 111.76, 112.63, 113.14
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 112.13 |
| Previous Daily Low | 110.76 |
| Previous Weekly High | 113.95 |
| Previous Weekly Low | 111.70 |
| Previous Monthly High | 114.78 |
| Previous Monthly Low | 107.67 |
| Daily Fibonacci 38.2% | 111.28 |
| Daily Fibonacci 61.8% | 111.61 |
| Daily Pivot Point S1 | 110.39 |
| Daily Pivot Point S2 | 109.89 |
| Daily Pivot Point S3 | 109.02 |
| Daily Pivot Point R1 | 111.76 |
| Daily Pivot Point R2 | 112.63 |
| Daily Pivot Point R3 | 113.14 |
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