FXstreet.com (Barcelona) - The Dollar is going through a strong bearish trend since the pair peaked at 97.75 on Augst 7, reaching so far, its lowest level in the last seven months, at 90.20 and, according to Karen Jones, technical analyst at Commerzbank, on its way to lower levels.

Jones observes the Dollar targeting 87.54/15 long-term support line: Rallies capped by the 20 day ma at 93.08 (initial resistance lies at 92.35). We continue to target 87.54/15 - this latter zone represents the recent lows and the long term support line, which connects the 1995 and 2009 lows.

Support levels, according to Jones, lie at 90.15, 88.60 and, 87.15/54; Resistance levels are 92.35, 93.08 and 93.30.

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