FXstreet.com (Barcelona) - Dollar´s downside attempt has been stopped at 88.75 support area, for the second time in two days, and the Dollar has bounced towards session high at 89.15, which is being tested at the moment.
The Dollar seems unlikely to break above 89.20 during the coming sessions, according to Swiss e Trade Strategy Team: The dollar is about to form another, lower intraday base against the yen in low volatility. Currently trading at 89.08, we see the current slight upmove in early European trading limited to 89.20, while later the support of the narrow trading band at 88.70 may be tested again today.
Resistance levels lie at the mentioned 89.15 session high, and above here, 89.40/50 and 89.75 (Nov 16 high). On the downside, support levels lie at 88.75 (Nov 16 low/session low), and below here, 88.35 (Oct 9 low) and 88.00/25 (Oct 7/Sept 28 low).