FXstreet.com (Barcelona) - Dollar weakness during Asian session has reached a fresh 5-weeks low at 95.60 to bounce up above 95.95 level. At the moment, the Dollar trades around 96.10, yet 0.70% below its day opening level.
Next resistance level lies at 96.40/50, and above there, the Dollar might find resistance at 96.90 and then at the 97.25/45 area. On the downside, a bearish reversal could find support at 95.95 and below there, 95.60 fresh 5-week low and 95.40 (Mar 12 low).
According to the Swiss e Trade Strategy Team, the Dollar does not seem to have a convincing potenntial either on the up or in the downside: The dollar weakened further in this European morning and is currently priced at 95.90. We do not see that support being broken in today's trading, but do not expect much upside potential, rather a narrow sideways movement in development.
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