Dollar falls to the lowest in 28 months
The dollar accelerated lower on Tuesday, extending weakness into fifth straight day (down 0.68% for the day) and hit the lowest since April 2018.
Bears pressure supports at 91.83/64 (Fibo 76.4% of 88.14/103.80 ascend / ascending 100MMA) and focus monthly cloud base (91.35) loss of which would open way towards key med-term support at 88.14 (2018 low).
The greenback is in steep downtrend since the beginning of coronavirus crisis and came under increased pressure on concerns over US presidential elections that ended consolidation phase in the first half of August and generated signal of bearish continuation.
Studies on daily and weekly charts are bearish but oversold that may slow bears, with upticks to be capped by falling 20DMA (93.41) to keep bears intact.
Res: 92.50; 92.78; 93.08; 93.41
Sup: 92.00; 91.83; 91.64; 91.35