The level of resistance to watch on the dollar would be the 50% Fibonacci level, which rejected dollar bulls yesterday forming a daily doji. As we can see it served as previous resistance throwing the pair back down to support in the 96.30 area, which would be the level of support I would have my eye on if the dollar cannot breach resistance. Price most likely will go to retest the level of resistance mentioned, if it breaks through then the next level I have my eye on would be the 78.6% Fibonacci resistance level. Also of note is the Daily 50 Moving Average which served as support twice already in the past 4 weeks.
Cheers =)
Cheers =)
