The index fades the initial uptick to the 102.00 zone on Friday. (Pivot Orderbook analysis)
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- The index fades the initial uptick to the 102.00 zone on Friday.
- The negative view persists while below the resistance line near 102.30.
The pair currently trades last at 101.6.
The previous day high was 101.91 while the previous day low was 100.81. The daily 38.2% Fib levels comes at 101.49, expected to provide support. Similarly, the daily 61.8% fib level is at 101.23, expected to provide support.
The upside momentum in DXY falters just ahead of the key 102.00 barrier in pre-NFP trading at the end of the week.
In the near term, further losses appear in the pipeline while below the 3-month resistance line near 102.30. If the index manages to clear this region it could accelerate gains to the provisional 55-day SMA, today at 103.93.
Below this line, the dollar is expected to keep the short-term bearish bias unchanged and with the immediate target at the 2023 low at 100.80 (February 2).
In the longer run, while below the 200-day SMA at 106.44, the outlook for the index remains negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 101.6 at the time of writing. Pair opened at 101.75 and is trading with a change of -0.15 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 101.60 |
| 1 | Today Daily Change | 41.00 |
| 2 | Today Daily Change % | -0.15 |
| 3 | Today daily open | 101.75 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 102.29, 50 SMA 103.64, 100 SMA @ 106.6 and 200 SMA @ 106.7.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 102.29 |
| 1 | Daily SMA50 | 103.64 |
| 2 | Daily SMA100 | 106.60 |
| 3 | Daily SMA200 | 106.70 |
The previous day high was 101.91 while the previous day low was 100.81. The daily 38.2% Fib levels comes at 101.49, expected to provide support. Similarly, the daily 61.8% fib level is at 101.23, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 101.07, 100.39, 99.96
- Pivot resistance is noted at 102.17, 102.59, 103.27
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 101.91 |
| Previous Daily Low | 100.81 |
| Previous Weekly High | 102.44 |
| Previous Weekly Low | 101.50 |
| Previous Monthly High | 105.63 |
| Previous Monthly Low | 101.50 |
| Daily Fibonacci 38.2% | 101.49 |
| Daily Fibonacci 61.8% | 101.23 |
| Daily Pivot Point S1 | 101.07 |
| Daily Pivot Point S2 | 100.39 |
| Daily Pivot Point S3 | 99.96 |
| Daily Pivot Point R1 | 102.17 |
| Daily Pivot Point R2 | 102.59 |
| Daily Pivot Point R3 | 103.27 |
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