Dollar recovery from day low at 90.48 has extended above 91.00, and the pair has reached a fresh day high at 91.15. At the moment of writing, the Dollar is struggling to hold above 91.00.
On he 4-hour chart, however, Greg Holden, technical analyst at ForexYard observes a bearish cross: "A bearish cross on the 4-hour chart is forming, signaling a potential price drop, while the Bollinger Bands are also tightening, pointing to an imminent volatile price movement. However, the 30min chart's Slow Stochastic indicates a recent bullish cross, signaling a possible upward movement."
Initial resistance area lies at 91.00/15 (Oct 19/20 high), and above here, the pair might find resistance at 91.30/35 (Oct 16/Sept 25 high) and 91.55/65 (Sept 23/24 highs). Support levels lie at 90.60 session low, and then 90.00/05 (Oct 20 low) and 89.70/90.
