FXstreet.com (Barcelona) - The Dollar has bounced at 97.15 level ahead off the European session opening and recovery extends through 97.85/98.00 resistance area to reach a fresh intra-week high at 98.25.

According to the Swiss e Trade Strategy Team, the dollar is in a bid tone, although a sharp rally is not on the cards: All of Asian and early European trading saw an undecided dollar market against the yen, caught in a narrow trading range between 97.90 and 97.30, currently at 97.70. We do not expect a decisive move out of this range, although a slight bid tone for the dollar to be kept.

Resistance levels lie at 98.45 (Apr 23 high), and above there, 98.92, (Apr 21) high and 99.15. On the downside below 98.00/97.85, next support levels come at 97.15, intra-day low and 96.60.

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