FXstreet.com (Barcelona) - Dollar retreat from 90.35 high has extended further as the pair broke below 89.50/60 (Sept 29 low/intra-day low) to levels around 89.38 at the time of writing.

Below 89.60, next support levels lie at 89.15 and below there, 88.25 (Sept 28 low) and 88.00. On the upside, resistance levels lie at 90.35/50 (Sept 24, intra-day lows), and above here, 90.85 and 91.30/35 (Sept 25 high).

According to Nicole Elliott, technical analyst at Mizuho Corporate Bank sees rallies to 90.40 as good selling opportunities: Trapped between a massive 'hammer' low and capped by the 9-day moving average. Rallies towards trendline resistance and the 26-day moving average at 91.40 are seen as medium term selling opportunities for an eventual test of January's low at 87.10.

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