DXY prints fresh cycle highs near 109.50 on Monday.

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• DXY prints fresh cycle highs near 109.50 on Monday.
• Further upside could revisit the September 2002 high at 109.77.

The pair currently trades last at 108.87.

The previous day high was 108.87 while the previous day low was 107.53. The daily 38.2% Fib levels comes at 108.36, expected to provide support. Similarly, the daily 61.8% fib level is at 108.05, expected to provide support.

DXY extends the post-Powell rally to the area of 109.50, recording at the same time new cycle highs.

Further upside remains on the cards for the index in the near term. Against that, the surpass of the 2022 high at 109.47 (August 29) should open the door to the September 2002 top at 109.77 prior to the round level at 110.00.

In the meantime, while above the 6-month support line around 105.40, 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 100.74.

Technical Levels: Supports and Resistances

EURUSD currently trading at 108.87 at the time of writing. Pair opened at 108.83 and is trading with a change of 0.04 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 106.85, 50 SMA 106.42, 100 SMA @ 104.48 and 200 SMA @ 100.63.

The previous day high was 108.87 while the previous day low was 107.53. The daily 38.2% Fib levels comes at 108.36, expected to provide support. Similarly, the daily 61.8% fib level is at 108.05, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 107.95, 107.07, 106.61
• Pivot resistance is noted at 109.29, 109.75, 110.63

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