DXY adds to Tuesday’s uptick and reclaims the area above 109.00., Check trading levels

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• DXY adds to Tuesday’s uptick and reclaims the area above 109.00.
• Immediately to the upside comes the cycle high at 109.47 (August 29).

The pair currently trades last at 109.15.

The previous day high was 109.11 while the previous day low was 108.27. The daily 38.2% Fib levels comes at 108.79, expected to provide support. Similarly, the daily 61.8% fib level is at 108.59, expected to provide support.

DXY trades on a firmer note and extends the rebound past the 109.00 hurdle on Wednesday.

The index seems to have moved into a consolidative phase, with the lower bound in recent lows near 107.60 (August 26 low). On the other hand, further gains initially target the 2022 high at 109.47 (August 29) prior to the September 2002 top at 109.77 and the round level at 110.00.

In the meantime, while above the 6-month support line around 105.50, DXY 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 100.87.

Technical Levels: Supports and Resistances

EURUSD currently trading at 109.15 at the time of writing. Pair opened at 108.82 and is trading with a change of 0.3 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 107.17, 50 SMA 106.59, 100 SMA @ 104.66 and 200 SMA @ 100.76.

The previous day high was 109.11 while the previous day low was 108.27. The daily 38.2% Fib levels comes at 108.79, expected to provide support. Similarly, the daily 61.8% fib level is at 108.59, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 108.36, 107.9, 107.52
• Pivot resistance is noted at 109.2, 109.58, 110.04

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