DXY fades the earlier bullish move to new 2-month highs near 104.50. (Pivot Orderbook analysis)
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- DXY fades the earlier bullish move to new 2-month highs near 104.50.
- The resumption of the uptrend should retarget the 200-day SMA.
The pair currently trades last at 104.04.
The previous day high was 104.31 while the previous day low was 104.04. The daily 38.2% Fib levels comes at 104.21, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.14, expected to provide resistance.
DXY comes under fresh downside pressure following earlier peaks past 104.50 on Tuesday.
In the near term, extra gains appear on the cards despite the ongoing knee-jerk. That said, the surpass of the May high at 104.53 (May 30) should put a potential visit to the key 200-day SMA, today at 105.65, back on the radar prior to the 2023 top of 105.88 (March 8).
Looking at the broader picture, while below the 200-day SMA the outlook for the index is expected to remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 104.04 at the time of writing. Pair opened at 104.29 and is trading with a change of -0.24 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 104.04 |
| 1 | Today Daily Change | 56.00 |
| 2 | Today Daily Change % | -0.24 |
| 3 | Today daily open | 104.29 |
The pair is trading above its 20 Daily moving average @ 102.67, above its 50 Daily moving average @ 102.3 , above its 100 Daily moving average @ 102.88 and below its 200 Daily moving average @ 105.55
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 102.67 |
| 1 | Daily SMA50 | 102.30 |
| 2 | Daily SMA100 | 102.88 |
| 3 | Daily SMA200 | 105.55 |
The previous day high was 104.31 while the previous day low was 104.04. The daily 38.2% Fib levels comes at 104.21, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.14, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 104.12, 103.95, 103.85
- Pivot resistance is noted at 104.38, 104.48, 104.64
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 104.31 |
| Previous Daily Low | 104.04 |
| Previous Weekly High | 104.42 |
| Previous Weekly Low | 102.96 |
| Previous Monthly High | 103.06 |
| Previous Monthly Low | 100.79 |
| Daily Fibonacci 38.2% | 104.21 |
| Daily Fibonacci 61.8% | 104.14 |
| Daily Pivot Point S1 | 104.12 |
| Daily Pivot Point S2 | 103.95 |
| Daily Pivot Point S3 | 103.85 |
| Daily Pivot Point R1 | 104.38 |
| Daily Pivot Point R2 | 104.48 |
| Daily Pivot Point R3 | 104.64 |
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