FXstreet.com (Barcelona) - Dollar decline from Friday's high at 95.85 has found support at 94.60 area and, after a period of consolidation, the Dollar has picked up momentum to attack resistance area at 95.00/10.
In case of breaking above the mentioned 95.00/10, next resistance levels lie at 95.30/40 (Jul 27/29 high) and 95.90 (Jul 30 high). Support levels lie at 94.50 (Jun 31 low), and below there, 94.30 and 94.00 (Jul 29 low).
According to Peter Rosentreich, technical analyst at ACM - Advanced Currency Markets, the Dollar should break above 95.45 in order to attract bulls: "Since then (Friday's sell-off) it has been catching a small bid and hugging the trend higher so despite the heavy handed action on Friday the trend is still up with resistance at 95.29 and 95.849. A revisit to 94.45 should see strong interest from the bulls. 4 hourly RSI is giving good confirmation of the uptrend, having never dropped below 40 (bearish) throughout the whole of this 3 week move.
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