DXY seems to have met quite a decent support around 108.00.
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
- DXY seems to have met quite a decent support around 108.00.
- A visit to the 2002 high should not be ruled out near term.
The pair currently trades last at 108.46.
The previous day high was 109.12 while the previous day low was 108.36. The daily 38.2% Fib levels comes at 108.83, expected to provide resistance. Similarly, the daily 61.8% fib level is at 108.65, expected to provide resistance.
DXY loses momentum and revisits the area of weekly lows in the 108.00 neighbourhood on Thursday.
Despite the corrective move, further still appears in store for the index. That said, bouts of weakness could be deemed as buying opportunities ahead of a probable retest of 109.00 and a potential new visit to the 2022 high at 109.29 (July 14). Above the latter comes the September 2002 top at 109.77 before the round level at 110.00.
In the meantime, while above the 6-month support line around 105.20, the index is expected to keep the short-term positive stance.
Looking at the long-term scenario, the bullish view in the dollar remains in place while above the 200-day SMA at 100.61.
Technical Levels: Supports and Resistances
EURUSD currently trading at 108.46 at the time of writing. Pair opened at 108.65 and is trading with a change of -0.17 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 108.46 |
| 1 | Today Daily Change | 69.00 |
| 2 | Today Daily Change % | -0.17 |
| 3 | Today daily open | 108.65 |
The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 106.62, 50 SMA 106.25, 100 SMA @ 104.3 and 200 SMA @ 100.5.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 106.62 |
| 1 | Daily SMA50 | 106.25 |
| 2 | Daily SMA100 | 104.30 |
| 3 | Daily SMA200 | 100.50 |
The previous day high was 109.12 while the previous day low was 108.36. The daily 38.2% Fib levels comes at 108.83, expected to provide resistance. Similarly, the daily 61.8% fib level is at 108.65, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 108.3, 107.96, 107.55
- Pivot resistance is noted at 109.05, 109.46, 109.81
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 109.12 |
| Previous Daily Low | 108.36 |
| Previous Weekly High | 108.21 |
| Previous Weekly Low | 105.55 |
| Previous Monthly High | 109.29 |
| Previous Monthly Low | 104.69 |
| Daily Fibonacci 38.2% | 108.83 |
| Daily Fibonacci 61.8% | 108.65 |
| Daily Pivot Point S1 | 108.30 |
| Daily Pivot Point S2 | 107.96 |
| Daily Pivot Point S3 | 107.55 |
| Daily Pivot Point R1 | 109.05 |
| Daily Pivot Point R2 | 109.46 |
| Daily Pivot Point R3 | 109.81 |
[/s2If]
Join Our Telegram Group
