FXstreet.com (Barcelona) - Dollar recovery from 88.15 low on Thursday highs been capped by resistance at 89.40 0n Friday's European session, and unable to break it, the pair has dropped to levels below 89.00.
Next support levels lie at 88.35 day low , and below here, 88.15 (Oct 8 low) and 88.00. On the upside, resistance levels lie at 89.40 (Oct 7 high), and above here, 89.65/70 (Oct 6 high) and 90.00.
The Dollar remains pressured to the downside, according to Nicole Elliott, senior technical analyst at Mizuho Corporate Band: Another strong intra-day rally was stalled by the 9-day moving average and the top of the 'triangle'. The US dollar is no longer oversold and bearish momentum remains steady; a weekly close below 88.75 would add to this.