FXstreet.com (Barcelona) - The Dollar has continued appreciating on Monday and after Friday's bounce at 93.45, the Dollar has risen from 94.30 to consolidate right below 95.00 during the European session times.

According to Greg Holden, technical analyst at ForexYard, the Dollar is in the midst of a sharp uptrend: The pair is in the midst of a very sharp upward movement. The pair is currently traded near the 94.80 level, and the next significant resistant level seems to be placed at the 95.30 level. If the pair will manage to breach through this level, it may have the potential to climb up towards 96.30.

Initial resistance lies at the 95.00 area (Aug 17 high), and above here, 95.30 (Aug 18 high) and 95.45/50 (Aug 14 high). On the downside, initial support level lies at 94.20, and below there, 93.65/85 (Aug 19 and 20 low) and 93.45 (Aug 21 low).