The index maintains the erratic activity around 103.00 so far. (Pivot Orderbook analysis)

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• The index maintains the erratic activity around 103.00 so far.
• The monthly high near 104.00 continues to cap the upside.

The pair currently trades last at 103.52.

The previous day high was 103.52 while the previous day low was 102.54. The daily 38.2% Fib levels comes at 102.92, expected to provide support. Similarly, the daily 61.8% fib level is at 103.15, expected to provide support.

DXY reverses the recent 2-day retracement and regains the 103.60 region on Wednesday.

The ongoing price action leaves the door open to the continuation of the consolidative note for the time being. Occasional bouts of strength, however, are expected to remain limited by the proximity of the 104.00 zone, or February highs (February 7).

In the longer run, while below the 200-day SMA at 106.45, the outlook for the index remains negative.

Technical Levels: Supports and Resistances

EURUSD currently trading at 103.52 at the time of writing. Pair opened at 103.25 and is trading with a change of 0.26 % .

The pair is trading above its 20 Daily moving average @ 102.49, above its 50 Daily moving average @ 103.39 , below its 100 Daily moving average @ 105.88 and below its 200 Daily moving average @ 106.73

The previous day high was 103.52 while the previous day low was 102.54. The daily 38.2% Fib levels comes at 102.92, expected to provide support. Similarly, the daily 61.8% fib level is at 103.15, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 102.69, 102.13, 101.72
• Pivot resistance is noted at 103.67, 104.08, 104.64

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