FXstreet.com (Barcelona) - The Dollar continues trading within a downward trending channel since it retreated from 90.15 high on Wednesday, as the pair's attempt to pick up from 89.20 low was capped at 89.60, sending the Dollar back to 89.30.

On a wider perspective, the Varengold Wertpapierhandelsbank AG foresees further decline after its fail to break 90.20 resistance: The USD has been trading in a bearish trend channel against the JPY. When it tried to cross the upper line from the trend channel, the currency pair rebounded always back. The last attempt failed at its resistance at 90.20 to leave the trend channel. Also it seems that the MACD will cross the signal line from the top which could support a further bearish trend.

On the downside, next support levels lie at 89.15, and below here, 88.25 (Spt 28 low) and 88.00. Resistance levels are 89.85/90, and above here, 90.15/20 (Oct 1 high) and 90.40 (Sept 30 high).

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