The upside bias in DXY loses some impetus near 104.50. (Pivot Orderbook analysis)

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• The upside bias in DXY loses some impetus near 104.50.
• Further upside could revisit the 2023 top around 105.60 near term.

The pair currently trades last at 104.47.

The previous day high was 104.6 while the previous day low was 104.0. The daily 38.2% Fib levels comes at 104.37, expected to provide support. Similarly, the daily 61.8% fib level is at 104.23, expected to provide support.

DXY struggles for direction in the upper end of the weekly range around 104.50 on Thursday.

The ongoing price action favours the continuation of the uptrend for the time being. Further bouts of strength should clear the February high at 104.68 (February 23) to allow for a probable challenge of the 2023 top at 105.63 (January 6).

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 104.47 at the time of writing. Pair opened at 104.53 and is trading with a change of -0.06 % .

The pair is trading above its 20 Daily moving average @ 103.11, above its 50 Daily moving average @ 103.32 , below its 100 Daily moving average @ 105.37 and below its 200 Daily moving average @ 106.8

The previous day high was 104.6 while the previous day low was 104.0. The daily 38.2% Fib levels comes at 104.37, expected to provide support. Similarly, the daily 61.8% fib level is at 104.23, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 104.16, 103.79, 103.57
• Pivot resistance is noted at 104.75, 104.97, 105.34

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