FXstreet.com (Barcelona) - The Dollar has been trading in a range from 88.00 to 88.40,after its rejection from 88.48 high on Thursday, and the pair has ticked up recently, reaching levels around 88.35 at the moment of writing, approaching session high at 88.40.
Resistance levels lie at 88.48 (Dec 3 high), and above here, 88.60/75 and 89.20 (Nov 2 low). On the downside, support levels lie at 87.55/65 (Dec 1 high) and below here, 87.00/20 and 86.50/60 (Dec 2 low).
According to the Swiss e Trade Strategy Team, consolidation channel might be broken to the upside with the Dollar reaching 89.00 high: The dollar is consolidating its again higher levels against the yen, with the current European morning market in the same narrow moves as in late Asian trading, between 88.00 and 88.25, trading right now at 88.25. We expect another upmove today, reaching levels near 89.00.