USD Rejected at Resistance- Key Test Ahead for DXYU.S. Dollar Currency IndexTVC:DXYFOREXcomThe US Dollar reversed sharply off pivotal resistance into the November open with DXY poised to mark a second consecutive weekly loss. The focus is now on whether the pullback marks the start of a larger correction or a brief pause within the broader uptrend. The Dollar has now fallen more than 1.2% off the monthly high with the decline now breaking below the September uptrend. A simple channel extending off the monthly high is guiding this decline with initial support now eyed at 99.68/78- a region defined by the August high-day close, the May low and the 38.2% retracement. Look for a larger reaction there IF reached with a break / close below needed to suggest a more significant high is in place and a larger trend reversal is underway. Subsequent support rests at 98.03 and the 2018 high / 61.8% retracement at 97.71/80. Weekly open resistance is eyed at 99.62 and is backed closely by the November open at 99.75. A break / close above this threshold would threaten resumption of the September uptrend with key resistance steady at 100.15/35- a region defined by the 2024 low, the 200-day moving average and the 2024 low close. Strength beyond this pivot zone is needed to fuel the next major leg of the US Dollar advance. The next major technical consideration is eyed at the 1.618% extension of the September advance at 101.32. Bottom line: DXY reversed from key resistance into the monthly open with a break below then September upslope threatening a deeper setback- be on the lookout for a possible exhaustion low in the days ahead. From a trading standpoint, losses would need to be limited to 98.68 IF this is a simple correction with a break above 100.35 needed to mark uptrend resumption. -MB