FXstreet.com (Barcelona) - Dollar's rejection fron 94.70 high on April 2/5 extended below 92,00 on Monday, and despite the current recovery attempt, Nicole Elliott, senior technical analyst at Mizuho Corporate Bank the pair expects the pair to remain sideways during the week to extend lower later this month. Elliot expects the pair to remain moving above the 9-week MA at 91.45, to pull lower over the next weeks: "Prices are currently holding above the 9-week moving average at 91.46, and they might hover around here all week; later this month we favour a drop to the 26-week one at 89.80." The pair continues showing bearish signs, according to Elliott, who advices to maintain short positions, despite moving averages: "The rally through January's high to 94.78 proved short-lived, stopped abruptly by a thin weekly Ichimoku 'cloud' and the Lagging Span against the 26-week moving average. The 'cloud' thickens and drops mid-May, suggesting one should continue to hold a short position"

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