FXstreet.com (Barcelona) - Support level at 97.00 has proven too week to hold the Dollar´s retreat from 9950, and the correction from there has brought about a 290 pips collapse so far, the pair advances at around 96.60 on its way to 96.40 support.

The Dollar seems to have established an important top at 99.50, and on its decline, next support levels come at 96.40, and below there 94 92, before what it seems to be a critical support level at 94.64 (Jan 6 high.)

Stoyan Mihaylov, technical analyst at Deltastock.com stresses the value of 94.64 support level: The impulsive nature of the slide from 99.69 clearly states, that a significant top has been set at that peak, so expect a break below 96.83 to target the important support at 94.64. Crucial on the upside is 98.50.