DXY alternates gains with losses around the 103.00 region. (Pivot Orderbook analysis)
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- DXY alternates gains with losses around the 103.00 region.
- The resumption of the selling bias could see the sub-102.00 area retested.
The pair currently trades last at 103.07.
The previous day high was 103.36 while the previous day low was 102.5. The daily 38.2% Fib levels comes at 103.03, expected to provide support. Similarly, the daily 61.8% fib level is at 102.83, expected to provide support.
DXY trades within an inconclusive range in the 103.00 neighbourhood at the beginning of the week.
If bulls fail to regain control of the sentiment – ideally in the very near term – the index could lose the grip and challenge recent lows in the sub-102.00 zone (March 23). Extra losses from here could put a visit to the 2023 low around 100.80 (February 2) back on the investors’ radar
Looking at the broader picture, while below the 200-day SMA, today at 106.59, the outlook for the index is expected to remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 103.07 at the time of writing. Pair opened at 103.12 and is trading with a change of -0.05 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 103.07 |
| 1 | Today Daily Change | 25.00 |
| 2 | Today Daily Change % | -0.05 |
| 3 | Today daily open | 103.12 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 104.21, 50 SMA 103.46, 100 SMA @ 104.19 and 200 SMA @ 106.77.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 104.21 |
| 1 | Daily SMA50 | 103.46 |
| 2 | Daily SMA100 | 104.19 |
| 3 | Daily SMA200 | 106.77 |
The previous day high was 103.36 while the previous day low was 102.5. The daily 38.2% Fib levels comes at 103.03, expected to provide support. Similarly, the daily 61.8% fib level is at 102.83, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 102.63, 102.14, 101.77
- Pivot resistance is noted at 103.49, 103.85, 104.34
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 103.36 |
| Previous Daily Low | 102.50 |
| Previous Weekly High | 103.96 |
| Previous Weekly Low | 101.92 |
| Previous Monthly High | 105.36 |
| Previous Monthly Low | 100.81 |
| Daily Fibonacci 38.2% | 103.03 |
| Daily Fibonacci 61.8% | 102.83 |
| Daily Pivot Point S1 | 102.63 |
| Daily Pivot Point S2 | 102.14 |
| Daily Pivot Point S3 | 101.77 |
| Daily Pivot Point R1 | 103.49 |
| Daily Pivot Point R2 | 103.85 |
| Daily Pivot Point R3 | 104.34 |
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