US Dollar Index Price Analysis: Further losses could see 90.40 retested

• 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