FXstreet.com (Barcelona) - The Dollar has continued picking up after bouncing at 90.20 on Asian session, reaching an intra-day high at 90.85. At the moment, the Dollar trades at 90.77; 0.45% above its opening level.
According to the Swiss e Trade Strategy Team, the Dollar coul reach as high as 91.50 although a quick recovery is not on the cards: Even against the Yen, usually acting inverse to the other pairs, the Dollar is a weak performer. Now on recovery this European morning, it is currently trading at 90.75. Although we do not expect a quick recovery, there is some upward potential in the market today, perhaps to prices around 91.50.
Resistance levels, at this moment, lie at 90.75/00, and above here, 91.40/60 (Sept 9 and 10 lows) and 91.80/95 (Jul 8, Sept 3 lows). On the downside, support levels lie at 90.20 (Intra-day low/ Sept 11 low) and below here, 90.00 psychological level and 89.70 (Feb 11 low).