DXY remains under pressure, albeit off earlier lows in the sub-102.00 zone. (Pivot Orderbook analysis)
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- DXY remains under pressure, albeit off earlier lows in the sub-102.00 zone.
- Below the 102.00 region, the index could retest the 2023 low.
The pair currently trades last at 102.25.
The previous day high was 103.26 while the previous day low was 102.05. The daily 38.2% Fib levels comes at 102.52, expected to provide resistance. Similarly, the daily 61.8% fib level is at 102.8, expected to provide resistance.
DXY retreats for the sixth consecutive session and keeps navigating the multi-week zone in the low-102.00s.
The bearish mood appears unabated for the time being. Against that, the breach of the March low at 101.91 (March 23) should put a potential test of the 2023 low near 100.82 (February 2) back on the investors’ radar.
Looking at the broader picture, while below the 200-day SMA, today at 106.60, the outlook for the index is expected to remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 102.25 at the time of writing. Pair opened at 102.57 and is trading with a change of -0.31 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 102.25 |
| 1 | Today Daily Change | 58.00 |
| 2 | Today Daily Change % | -0.31 |
| 3 | Today daily open | 102.57 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 104.41, 50 SMA 103.43, 100 SMA @ 104.26 and 200 SMA @ 106.8.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 104.41 |
| 1 | Daily SMA50 | 103.43 |
| 2 | Daily SMA100 | 104.26 |
| 3 | Daily SMA200 | 106.80 |
The previous day high was 103.26 while the previous day low was 102.05. The daily 38.2% Fib levels comes at 102.52, expected to provide resistance. Similarly, the daily 61.8% fib level is at 102.8, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 101.99, 101.42, 100.78
- Pivot resistance is noted at 103.2, 103.84, 104.41
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 103.26 |
| Previous Daily Low | 102.05 |
| Previous Weekly High | 105.11 |
| Previous Weekly Low | 103.44 |
| Previous Monthly High | 105.36 |
| Previous Monthly Low | 100.81 |
| Daily Fibonacci 38.2% | 102.52 |
| Daily Fibonacci 61.8% | 102.80 |
| Daily Pivot Point S1 | 101.99 |
| Daily Pivot Point S2 | 101.42 |
| Daily Pivot Point S3 | 100.78 |
| Daily Pivot Point R1 | 103.20 |
| Daily Pivot Point R2 | 103.84 |
| Daily Pivot Point R3 | 104.41 |
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