US Dollar Index spikes to 102.29 and retreats to 102.00. (Pivot Orderbook analysis)
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- US Dollar Index spikes to 102.29 and retreats to 102.00.
- March US jobs report mostly in line with expectations.
- Holiday likely to keep price action limited, normal activity to return on Tuesday.
The pair currently trades last at 102.09.
The previous day high was 102.14 while the previous day low was 101.76. The daily 38.2% Fib levels comes at 101.99, expected to provide support. Similarly, the daily 61.8% fib level is at 101.9, expected to provide support.
The US Dollar Index (DXY) rose to 102.29 after the release of the US March jobs report and then pulled back toward 102.00, amid risk appetite. The numbers boosted US yields and equity futures on a tight volume session.
The US Labor Department’s announced that Nonfarm Payrolls increased by 236K in March, against the market consensus of 240K. The Unemployment Rate fell from 3.6% to 3.5%, even as the Labor Participation Force rose. Average hourly earnings rose by 0.3% MoM, matching consensus.
The negative surprise that could be expected following the latest economic reports did not happen and could explain why the Dollar reacted to the upside. Now attention turns to next week’s US Consumer Price Index data.
The DXY is rising on Friday, as it trades slightly above 102.00. Despite posting the third consecutive gain, it is still down for the week. It will be the fourth weekly slide in a row.
Technical Levels: Supports and Resistances
EURUSD currently trading at 102.09 at the time of writing. Pair opened at 101.91 and is trading with a change of 0.18 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 102.09 |
| 1 | Today Daily Change | 0.18 |
| 2 | Today Daily Change % | 0.18 |
| 3 | Today daily open | 101.91 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 103.0, 50 SMA 103.49, 100 SMA @ 103.79 and 200 SMA @ 106.52.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.00 |
| 1 | Daily SMA50 | 103.49 |
| 2 | Daily SMA100 | 103.79 |
| 3 | Daily SMA200 | 106.52 |
The previous day high was 102.14 while the previous day low was 101.76. The daily 38.2% Fib levels comes at 101.99, expected to provide support. Similarly, the daily 61.8% fib level is at 101.9, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 101.73, 101.55, 101.35
- Pivot resistance is noted at 102.12, 102.32, 102.5
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 102.14 |
| Previous Daily Low | 101.76 |
| Previous Weekly High | 103.23 |
| Previous Weekly Low | 102.05 |
| Previous Monthly High | 105.89 |
| Previous Monthly Low | 101.92 |
| Daily Fibonacci 38.2% | 101.99 |
| Daily Fibonacci 61.8% | 101.90 |
| Daily Pivot Point S1 | 101.73 |
| Daily Pivot Point S2 | 101.55 |
| Daily Pivot Point S3 | 101.35 |
| Daily Pivot Point R1 | 102.12 |
| Daily Pivot Point R2 | 102.32 |
| Daily Pivot Point R3 | 102.50 |
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