FXstreet.com (Barcelona) - Dollar recovery from 84.80 low in November 27 extended during Asian session ti break above 87.40 and has stalled on European trade at 87.90. At the moment the Dollar moves around 87.80; 0.50% above its day-opening level.
Next resistance level lies at the mentioned 87.90/00 (session high/Oct 7 low), and above here, 88.40 and 88.60/75. On the downside, support levels lie at 87.00, and below here, 86.50 and 85.85 (Nov 30 low).
According to Peter Rosenstreich, technical analyst at ACM - Advanced Currency Markets, the pair is facing resistance near the monthly downtrendline at 88.40: 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.