DXY faces resistance at the 20-day EMA, with bulls needing to reclaim this level and the 102.000 mark to break the sideways trend. (Pivot Orderbook analysis)
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- DXY faces resistance at the 20-day EMA, with bulls needing to reclaim this level and the 102.000 mark to break the sideways trend.
- DXY support lies at a weekly low of 101.041, with further levels under 101.000, including the YTD low of 100.788.
The pair currently trades last at 101.62.
The previous day high was 101.42 while the previous day low was 101.04. The daily 38.2% Fib levels comes at 101.27, expected to provide support. Similarly, the daily 61.8% fib level is at 101.18, expected to provide support.
The US Dollar Index (DXY), a gauge of the greenback’s value against a basket of six currencies, registers minuscule gains of 0.26% as the Asian session begins. The DXY exchanges hands at around 101.654 after hitting a daily low of 101.359.
Must read: US Dollar Index: Could a double bottom at the weekly chart drive the DXY to 111.000?
The US Dollar continues to overextend nearby yearly lows, unable to drop to fresh year-to-date (YTD) lows, and capped on the upside by the 20-day Exponential Moving Average (EMA) at 101.728. The DXY is set to remain trading sideways, unable to break below/above the range.
Even though the double-bottom in the weekly chart remains in play, US Dollar bulls must reclaim the 20-day EMA, followed by the 102.000 mark. If that scenario plays out, the DXY will test the confluence of a six-month-old resistance trendline and the 50-day EMA at around 102.300-400. A decisive break could trigger an acceleration toward the 103.000 area, with the 100 and 200-day EMAs resting at 103.290 and 103.843, respectively.
Conversely, DXY’s first support would be the weekly low of 101.041. Support levels lie underneath the 101.000 figure, with the February 2 swing low of 100.820, followed by the year-to-date (YTD) low of 100.788.
Technical Levels: Supports and Resistances
EURUSD currently trading at 101.62 at the time of writing. Pair opened at 101.39 and is trading with a change of 0.23 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 101.62 |
| 1 | Today Daily Change | 0.23 |
| 2 | Today Daily Change % | 0.23 |
| 3 | Today daily open | 101.39 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 101.64, 50 SMA 102.74, 100 SMA @ 103.04 and 200 SMA @ 106.01.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 101.64 |
| 1 | Daily SMA50 | 102.74 |
| 2 | Daily SMA100 | 103.04 |
| 3 | Daily SMA200 | 106.01 |
The previous day high was 101.42 while the previous day low was 101.04. The daily 38.2% Fib levels comes at 101.27, expected to provide support. Similarly, the daily 61.8% fib level is at 101.18, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 101.15, 100.91, 100.77
- Pivot resistance is noted at 101.53, 101.66, 101.9
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 101.42 |
| Previous Daily Low | 101.04 |
| Previous Weekly High | 102.40 |
| Previous Weekly Low | 101.03 |
| Previous Monthly High | 103.06 |
| Previous Monthly Low | 100.79 |
| Daily Fibonacci 38.2% | 101.27 |
| Daily Fibonacci 61.8% | 101.18 |
| Daily Pivot Point S1 | 101.15 |
| Daily Pivot Point S2 | 100.91 |
| Daily Pivot Point S3 | 100.77 |
| Daily Pivot Point R1 | 101.53 |
| Daily Pivot Point R2 | 101.66 |
| Daily Pivot Point R3 | 101.90 |
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