DXY fades Tuesday’s uptick and returns to the sub-104.00 region (Pivot Orderbook analysis)
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- DXY fades Tuesday’s uptick and returns to the sub-104.00 region
- Further choppiness seems probable in the near term .
The pair currently trades last at 103.92.
The previous day high was 104.37 while the previous day low was 103.81. The daily 38.2% Fib levels comes at 104.16, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.03, expected to provide resistance.
DXY leaves behind Tuesday’s decent gains and resumes the downside below the key 104.00 support on Wednesday.
Considering the ongoing price action, the index could now move into a consolidative phase in light of the current lack of strong catalysts. On the downside, the June low of 103.38 (June 2) emerges as the immediate contention, while the next up-barrier is seen at the May peak of 104.79 (May 31).
Looking at the broader picture, while below the 200-day SMA at 105.51 the outlook for the index is expected to remain negative.
Technical Levels: Supports and Resistances
EURUSD currently trading at 103.92 at the time of writing. Pair opened at 104.14 and is trading with a change of -0.21 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 103.92 |
| 1 | Today Daily Change | 44.00 |
| 2 | Today Daily Change % | -0.21 |
| 3 | Today daily open | 104.14 |
The pair is trading above its 20 Daily moving average @ 103.42, above its 50 Daily moving average @ 102.45 , above its 100 Daily moving average @ 102.96 and below its 200 Daily moving average @ 105.39
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 103.42 |
| 1 | Daily SMA50 | 102.45 |
| 2 | Daily SMA100 | 102.96 |
| 3 | Daily SMA200 | 105.39 |
The previous day high was 104.37 while the previous day low was 103.81. The daily 38.2% Fib levels comes at 104.16, expected to provide resistance. Similarly, the daily 61.8% fib level is at 104.03, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 103.85, 103.55, 103.28
- Pivot resistance is noted at 104.41, 104.67, 104.97
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 104.37 |
| Previous Daily Low | 103.81 |
| Previous Weekly High | 104.70 |
| Previous Weekly Low | 103.38 |
| Previous Monthly High | 104.70 |
| Previous Monthly Low | 101.03 |
| Daily Fibonacci 38.2% | 104.16 |
| Daily Fibonacci 61.8% | 104.03 |
| Daily Pivot Point S1 | 103.85 |
| Daily Pivot Point S2 | 103.55 |
| Daily Pivot Point S3 | 103.28 |
| Daily Pivot Point R1 | 104.41 |
| Daily Pivot Point R2 | 104.67 |
| Daily Pivot Point R3 | 104.97 |
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