FXstreet.com (Barcelona) - The Dollar has been trading in a narrow range both sides of 98.50 during Wednesday's Asian session, after having dropped from 98.90 in late U.S. session.

The pair is going through a consolidation pattern, after rebound from March 6 low at 96.55 capped at 99.20, the pair has been trading between there and a lower level at 97.90, with intermediate level at 98.50.

According to Nicole Elliott, senior technical analyst at Mizuho Corporate bank, we could see a drift towards 97.00 later on the day: Holding just under 99.00, and below the recent high at 99.69, and we favour a drift down to 97.00 late today. Later this week or this month we shall continue to favour a drop back down towards the 93.00 area.