FXstret.com (Barcelona) - The Dollar broke finally above 94.30 resistance and reached an intra-day high at 94.58, on the back of better then expected U.S. new home sales,although the pair remains struggling below 94.50 at the moment.
In case of consolidating above 94.45/50 area, next resistance levels lie at 94.80 and 95.30 (Aug 18 high). On the downside, below 94.30, initial support lies at 93.65/80 (Aug 20/25 lows), and below here, 93.40 (Aug 21 low) and 93.100 (Jul 22 low).
According to Valeria Bednarik, collaborator at FXstreet.com, above 94.30 the pair could pick up strength: Holding above 94.00, chances remain to the upside thus clear break above 94.45 is needed to see the pair regain some strength. Under 93.70, expect some downside pressure, thus both sides should remain limited here.