FXstreet.com (Barcelona) - Dollar recovery from Tuesday's low at 92.00 has been capped at 92.60 high on Wednesday's European session, and the Dollar has declined sharply to break below Jul 13 low at 91.75 and hit a fresh 7-month low at 91.60.

The Dollar is entering oversold territory in hourly and 4 hour carts, and next support levels lie at 90.75 (Jan 28 high) ad below there, 90.25 and 90.05. On the upside, resistance levels lie at 91.95/00 (Sept 3 and 8 low), and above here, 92.70/80 (Sept 7 low) and 93.10.

According to Valeria Bednarik, collaborator at FXstreet.com, below 91.75, we could see the pair heading to 90.00: Expect the pair to retest the 91.70 strong support area; it this last gives up, we could see some strong downside momentum that will send the pair close to 90.00 in the days to come.