FXstreet.com (Barcelona) - Dollar decline from 1.0855 high on Tuesday found support right at 1.0660 on Wednesday. and the Dollar has bounced during Asian session, to consolidate in a range both sides of 1.0750. At the moment of writing, te Dollar trades at 1.0755.
The ecPulse.com analysis team, observes the current recovery, as a corrective move to be capped at 1.0775, ahead of further decline: The 1.0655 level was able to halt further declines for the Loonie resulting in a rebound to the upside in correctional movements towards the 61.8% correction at 1.0775, taking the stochastic indicator into overbought areas, where our expectations are for a decline on the intraday basis targeting the breach of 1.0655 before heading towards 1.0000 as far as 1.0805 remains intact on the four hour charts.
Resistance levels, according to the ecPulse.com analysis team, lie at 1.0775, 1.0805 and 1.0850. Support levels lie at 1.0700 1.0655 1.0625.