FXstreet.com (Barcelona) - The Dollar has climbed further during the European trading time breaking above 91.00 to extend rally from 88.80 low in October 14 to session low at 91.30 so far.
Current rally is corrective in nature, and according to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the pair coud be capped around 91.75: Undoubtedly a corrective move, but it suggests we will hold above 88.00 for the rest of this month. We still feel we shall form an interim high somewhere below first Fibonacci retracement at 91.75.
Resistance levels, according to Elliott, lie at 91.55/75 and, above here 92.10 and 92.55. On the downside support lecvels lie at 90-50, and below here, 90.25 and 90.00.