Today’s metals sell-off gave the dollar a brief lift — and that reaction was intentional.

Zoom out to the charts and the message is clear: nothing meaningful changed. Price was simply pushed back into the macro trendline from below, setting up a textbook retest.

Moves like this are tactical, not structural. They’re meant to shake positioning, add noise, and buy time — not to reverse a trend. With the broader structure still broken, this retest is far more likely to fail than evolve into a sustained turnaround.

Once rejection shows up, the path of least resistance stays the same:

the dollar rolls over and continues lower.