FXstreet.com (Barcelona) - The Dollar has recovered quite well to almost pare loses with yesterday's decline, as the pair hovers below resistance level at 97.85 at the time of writing.

According to Carol Harmer, technical analyst at Charmer Charts, 98.08 level could trigger bulls: Now if buyers are brave and push this through 98.08 then they will run with it to the measured target of 98.40 and 98.56.

In case of further climbing, Harmer points out to 98.65 as a key level: Profit taking will be evident at these higher levels. Sellers may stand a chance then of making some money. If however 98.64 breaks sellers will be depressed, leaving jubilant buyers to push this higher to 9922/24.

If the Dollar breaks above 97.85, next resistance level could lie at yesterday's high 97.98, and above here, 98.45 (Apr 23 high). On the downside, support levels lie at 97.15, and below there, 96.60 and 96.20.

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