- DXY falls and records new yearly lows just above 91.00.
- The stakes for a deeper pullback continue to rise.
The bearish momentum surrounding the dollar remains unchanged despite the ongoing rebound from the previous 30-month lows around 91.10.
Dollar selling pressure is expected to ease somewhat above 92.80 (November 23 high), although further losses continue to point to psychological support at 90.00 before April 2018 lows near 89.20.
Meanwhile, if the DXY trades below the 200 SMA today at 95.91, the offered stance is expected to persist.
Daily chart
Technical levels
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
