FXstreet.com (Barcelona) - The Dollar has regained in early European session, part of the ground lost during Asian session; after hitting an intra-week low at 97.90, the Dollar is gathering strength to approach 99.50/60 level.
Above 98.50/60, the Dollar could find resistance at 99.10/20 (May 5 high), and above here, 99.60 (May 1 and 4 high). On the downside, support level lies at 97.90/98.00 and below there 97.50 and 97.15 (Apr 30 low).
Tim Salem, collaborator at FXstreet.com sees the Dollar correcting to the upside, after decline on Asian session: Hourly Consolidation also see the Unit with slight Upwards Slope and reading of RSI at 37, as Price looks to Correct towards the 98.61 Daily Static Resistance/98.64 Hourly 20SMA Confluence Area. Breaching this Level sees 98.91 Dynamic Resistance ahead of 99.21 Static Resistance, which is also the Support Base of the Accumulation Area towards the Daily Static Resistance Range at 99.51/55.
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