FXstreet.com (Barcelona) - The Dollar has remained trading in a range between 97.60 support level and 98.20/35 resistance area. At the moment the Dollar trades few pips below 98.00.
Immediate resistance level lie at 98.20/35 (intra-day high) and above there, 98.50 intra-day level, if the Dollar manages to hold above here, 98.95 (Apr 21 high) would come on sight. On the downside, support levels remain at 97.60 (Apr 22 low) and below here, 97.25 (Mar 31 low) and 96.65.
According to Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, the pair is expected to remain rangebound today: Still holding just above the 50% retracement level, between the 9 and 26-day moving averages. Allow for yet more of the same today with chart levels not holding well, so that an initial dip to a new recent low is reversed later in the day.
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