FXstreet.com (Barcelona) The Dollar has finally broken above 87.90/00 resistance area and the pair extended recovery from 84.80 low on November 27, to levels around 88.20 at the moment of writing.

Att this point, next resistance levels lie at 88.40 and above here, 88.60/75 congestion area and 89.20 (Nov 2 low). On the downside, below 88.00, support levels lie 87.00, 86.50 and 85.85 (Nov 30 low).

The Dollar approaches now 88.40 resistance, where, according to According to Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, the pair will face tough resistance: Bullish momentum has resumed today but stopped just short of 88.00 and the pair will face an important test as it approaches the one month down trendline coming in around 88.40.