- DXY partially reverses Friday’s strong advance to levels past 91.00.
- Another visit to monthly lows near 90.40 remains on the table.
DXY meets strong hurdle around 91.40 and sparks a corrective downside to the vicinity of the 91.00 support on Monday.
Further downside should not be ruled out. That said, a breach of the 91.00 level carries the potential to trigger a deeper move to, initially, the so far monthly lows near 90.40 (April 29). The contention region around 91.00 is also reinforced by the 100-day SMA, today at 91.03.
Below the 200-day SMA (91.96) the outlook for DXY is expected to remain on the negative side.
DXY daily chart
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