DXY remains bid and flirts with the 2022 top near 109.30.

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• DXY remains bid and flirts with the 2022 top near 109.30.
• Further north of comes the September 2002 high around 109.80.

The pair currently trades last at 109.01.

The previous day high was 109.11 while the previous day low was 108.08. The daily 38.2% Fib levels comes at 108.71, expected to provide support. Similarly, the daily 61.8% fib level is at 108.47, expected to provide support.

DXY keeps the rally well and sound and trades at shouting distance from the YTD highs near 109.30 on Tuesday.

The continuation of the upside momentum looks increasingly likely in the very near term. That said, beyond the 2022 high at 109.29 (July 14) the index could challenge the September 2002 peak at 109.77 prior to the round level at 110.00.

In the meantime, while above the 6-month support line near 105.10, 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 100.49.

Technical Levels: Supports and Resistances

EURUSD currently trading at 109.01 at the time of writing. Pair opened at 108.96 and is trading with a change of 0.05 % .

The pair remains strongly bullish on the daily timeframe. It trades above its 20 SMA @ 106.45, 50 SMA 106.12, 100 SMA @ 104.11 and 200 SMA @ 100.37.

The previous day high was 109.11 while the previous day low was 108.08. The daily 38.2% Fib levels comes at 108.71, expected to provide support. Similarly, the daily 61.8% fib level is at 108.47, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 108.33, 107.69, 107.3
• Pivot resistance is noted at 109.35, 109.74, 110.38

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