FXstreet.com (Barcelona) - Dollar retreat from Monday's high at 93.30 has extended on European session as Yen has strengthened despite risk appetite, pulling the USD back to 92.00 giving away all the rally from September 3 low at 94.95.
According to the Swiss e Trade Strategy Team, the Dollar has reached an attactive buying point ansd we could see a rebound today: The Dollar, tending weaker this European morning and currently trading at 92.15, has reached an interesting buying point. Short term oversold, up reactions could set in from here, transforming later in an uptrend today. We see levels around 92.90 tested today on the upside.
Initial support level, at this point, lies at 91.95/00, (Sept 3 low/intra-day low) and below here, 92.70 and 92.50. On the upside, resistance levels lie at 92.60/70, and above there, 93.00 and 93.30.