FXstreet.com (Barcelona) - Dollar decline from Asian session high at 89,85 has found support at 88.80 low ahead of the European session opening, and the Dollar has appreciated ever since, reaching levels around 89.30 at the moment of writing.

Resistance areas, at the moment, lie at 89.40/45 (Oct 13 low/Oct 7 high) and above here, 89.90 and 90.20. On the downside, support levels are 88.65/70 (Oct 8 high), and below here, 88.35 (Oct 9 low) and 88.15 (Oct 8 low).

On the upside, Ian Coleman, technical analyst at Turtle Futures points out to 89.60 level as first target for a bullish reaction: We are looking short term bullish at the moment but I would look for the MACD trend line to break before I trigger my buy trade. First target will be 89.60 (trend line). A break of this level and we should be looking to 90.42 then possibly 92.00 (161.8% of the first move).

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