FXstreet.com (Barcelona) - The Dollar has extended its retreat from 90.00 high on Monday as the pair broke below session low at 88.80 to print another low at 88.67 at the moment of writing, 0.90% below its day opening level.
At the moment, the Dollar remains at short distance to 88.60 level (Oct 2 low), and in case of further decline, next support could be 88.25 (Sept 28 low) and 88.00. On the upside, resistance levels lie at 89.70 intra-day high, and above here, 90.00 and 90.20 (Oct 1 high).
Nicole Elliott, senior technical analyst at Mizuho Corporate Bank sees the Dollar downslope, heading towards this year's low at 87.10: The question now is whether we will re-test this year's low at 87.10 this month or later this quarter and, after that, how much lower might we go. The pace of the move is likely to determine how low and for how long the move persists. The faster the move, the sooner we meet target, and the greater the subsequent bounce.