FXstreet.com (Barcelona) - After testing support at 95.05 level for hours, decline from Thursday high at 96.45 has extended to levels below 95.00, as the Dollar dropped to 94.95.

In case of sustained decline below 95.05, next support levels come at 98.75/85 (Aug 6 low), and belw there, 94.65 (Aug 5 low). On the upside, resistance levels remain at 95.50, and above here, 95.75/80 and 96.00/10.

According to Ian G Coleman, collaborator at FXstreet.com, the Dollar could decline to levels right above 94.00: On the daily chart, we broke out of the trend channel only to pull back inside. If this is wave 3 of a big cycle or even a large ABC correction, we should expect a pull back to 94.014 (61.8%) to form the first and second waves.

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