FXstreet.com (Barcelona) - Dollar recovery from 93.35 intra-day low has been halted at 93.95, and the Dollar, weighed by negative stock markets is dropping back to test suppor at the 95.35/45 area.
Below 93.35/45 (intra-day low/Aug 21 low), next support levels could be located at 93.10 (Jul 22 low) and 92.95 (trendline support). On the upside, a potential rebound might find resistance at 93.80/90, and above here, 94.63 (Aug 25 high) and 95.05 (Aug 24 high).
Valeria Bednarik, collaborator at FXstreet.com seethe pair bearish while below 94.00: Bearish 20 SMA is keeping the upside capped, holding the pair under 94.00. Bigger time frames also support some upside correction for next hours, thus pair needs at least to open a candle above the 94.00 area to gain some upside strength.