FXstreet.com (Barcelona) - The Dollar's recovery from today's low at 1.0030 (possible double bottom, Oct 21 and 23 low) has continued during the American session to break MA55 hourly chart at 1.0070 and hit intra-day high at 1.0090 in its way to test the 1.0100 level.
Currently the pair is trading around 1.0075/85, 0.30% above today's opening price action at 1.0050.
Valeria Bednarik, FXstreet.com collaborator, comments: Consolidating in a tight 40 pips range, hourly indicators gave no real clues for next hours, while bigger time frames indicators remain bearish, with 20 SMA above current price and with a bearish slope. Pair needs to regain the 1.0100 level to gain some upside momentum, while a continuation to parity seems likely at this point. Market players should pay attention to a probable intervention if pair breach under.
Bednaril provides us with her levels: Support levels: 1.0030 0.9980 0.9950. Resistance levels: 1.0070 1.0100 1.0130.