FXstreet.com (Barcelona) - Dollar's decline from Yesterday's 4-month high at 93.20 has found support at 91.65 and the pair's recovery extends above 92.00 reaching levels around 92.15 at the moment of writing, at Monday's low, where the Dollar might find resistance.

According to Ian Coleman, technical analyst at Turtle Index, above 92.15, the pair would cancel bearish pattern and target 93.21: If we break the previous low at 92.19 then the wave count becomes invalid. I would then expect a move up to the high at 93.21 and passed that to 94.43.

If the pair breaks above 92.15 (Jan 4 low), next resistance level comes at 92.50/70 and 93.15/20 (Dec 31/Jan 4 high). On the downside, support levels lie at 91.65 intra-day low, and below here, 91.30 (Dec 25 low) and 91.00/15 (Dec 22, 24 lows).

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