DXY clinches new highs just above the 108.00 mark.

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• DXY clinches new highs just above the 108.00 mark.
• There is now scope for a move to the 2022 high past 109.00.

The pair currently trades last at 107.95.

The previous day high was 107.56 while the previous day low was 106.5. The daily 38.2% Fib levels comes at 107.16, expected to provide support. Similarly, the daily 61.8% fib level is at 106.91, expected to provide support.

DXY is up for the third session in a row and prints new multi-week tops just north of the 108.00 hurdle on Friday.

The continuation of the upside momentum is now expected to target the YTD high at 109.29 (July 14) ahead of the September 2002 high at 109.77. Up from here emerges the round level at 110.00.

In the meantime, the 6-month support line continues hold the upside around 104.90. 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 100.35.

Technical Levels: Supports and Resistances

EURUSD currently trading at 107.95 at the time of writing. Pair opened at 107.52 and is trading with a change of 0.4 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 106.25, 50 SMA 105.93, 100 SMA @ 103.91 and 200 SMA @ 100.24.

The previous day high was 107.56 while the previous day low was 106.5. The daily 38.2% Fib levels comes at 107.16, expected to provide support. Similarly, the daily 61.8% fib level is at 106.91, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 106.83, 106.13, 105.77
• Pivot resistance is noted at 107.89, 108.26, 108.95

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