DXY advances further and flirts with the 111.00 region. (Pivot Orderbook analysis)

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• DXY advances further and flirts with the 111.00 region.
• The FOMC event will put the ongoing bull run to the test.

The pair currently trades last at 110.69.

The previous day high was 110.29 while the previous day low was 109.36. The daily 38.2% Fib levels comes at 109.94, expected to provide support. Similarly, the daily 61.8% fib level is at 109.71, expected to provide support.

DXY extends the auspicious start of the week and prints new 20-year highs just below the 111.00 mark on Wednesday.

The prospects for extra gains in the dollar should remain unchanged as long as the index trades above the 7-month support line near 106.70. That said, the surpass of the 2022 peak at 110.86 (September 21) should expose a quick move to the 111.00 barrier.

In the longer run, DXY is expected to maintain its constructive stance while above the 200-day SMA at 101.87.

Technical Levels: Supports and Resistances

EURUSD currently trading at 110.69 at the time of writing. Pair opened at 110.19 and is trading with a change of 0.45 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 109.35, 50 SMA 107.84, 100 SMA @ 105.92 and 200 SMA @ 101.82.

The previous day high was 110.29 while the previous day low was 109.36. The daily 38.2% Fib levels comes at 109.94, expected to provide support. Similarly, the daily 61.8% fib level is at 109.71, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 109.6, 109.01, 108.66
• Pivot resistance is noted at 110.54, 110.88, 111.48

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