- The upside on the DXY lost momentum below 91.00.
- The ongoing decline could extend into the neighborhood of 90.00.
The US Dollar Index (DXY) encountered strong resistance in the area just below 91.00, prompting the subsequent corrective reaction, which is ongoing.
The continuation of this pullback carries the potential to revisit the weekly lows area around the key support at 90.00, in the near term.
Meanwhile, and looking at the broader scenario, as long as the DXY remains below the 200-day SMA today at 91.85, the outlook for the dollar is forecast to remain negative.
DXY day chart
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