FXstreet.com (Barcelona) - The Dollar, after having crossed the 100.00 barrier on late Friday's U.S. session, continues climbing, and the pair approaches 100.35 resistance level at early European session time.
On the upside, a clear move above here would locate the pair beneath 100.60 level 101.60 (61.8% resistance of the Aug/ Jan Fall), and above there, 102.15 (Oct 21 high). In case of a downward reaction, 100.65 intra-day level could offer support, ,and below here, 100.35 and 100.00.
According to Nicole Elliot, senior technical analyst at Mizuho Corporate Bank, the Dollar could reach prices above 102.00: Some are getting very excited by the fact the Yen has rallied over the psychological 100.00 level for the first time since November (high 100.56). Last week's close just above 100.00 suggests another brief squeeze higher still, to 102.00 and possibly even as high as 106.50.