FXstreet.com (Barcelona) - Dollar decline from 93.75 high on Jan 7 has extended during Asian session, reaching levels below 91.80 support targeting 91.21 area, according to Mohammed Isah, technical analyst at FXTechstrategy.

Current Dollar's decline is corrective in nature, and targets 91.21, according to Isah: With pressure continuing to build to the downside following its loss of momentum at the 93.74, threats of further downside looks to shape up towards its Jan 08'10 low at 91.21. A turn below there will expose its Dec 04'09 high at 90.77 where a cap is expected to turn the pair back up again.

On the upside, an bullish reaction above 93.74 level, would offset current decline and set the pair towards 95.75 area, says Isah: in order for the pair to reverse its current downside vulnerability, a sustained acceleration through its channel top and its Jan 07'10 high at 93.74 must occur to build a case for further upside towards its .50 Fibonacci Retracement(101.43-84.80)/Aug 24'09 high at 95.05/01 ahead of its Aug 07'09 high at 97.77.

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