DXY advances further north of the 108.00 level to new highs.

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• DXY advances further north of the 108.00 level to new highs.
• Beyond 109.00 comes the 2022 high near 109.30.

The pair currently trades last at 108.41.

The previous day high was 108.21 while the previous day low was 107.48. The daily 38.2% Fib levels comes at 107.93, expected to provide support. Similarly, the daily 61.8% fib level is at 107.76, expected to provide support.

DXY clinches new highs further north of the 108.00 mark at the beginning of the week.

The continuation of the upside momentum looks increasingly likely in the very near term at least. That said, there is an initial hurdle at the round level at 109.00. Once cleared, the YTD high at 109.29 (July 14) should come to the fore ahead of the September 2002 high at 109.77.

In the meantime, the 6-month support line continues hold the upside just above 105.00. Above this zone, 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 100.42.

Technical Levels: Supports and Resistances

EURUSD currently trading at 108.41 at the time of writing. Pair opened at 108.11 and is trading with a change of 0.28 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 106.32, 50 SMA 106.03, 100 SMA @ 104.01 and 200 SMA @ 100.31.

The previous day high was 108.21 while the previous day low was 107.48. The daily 38.2% Fib levels comes at 107.93, expected to provide support. Similarly, the daily 61.8% fib level is at 107.76, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 107.66, 107.2, 106.92
• Pivot resistance is noted at 108.39, 108.67, 109.12

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