FXstreet.com (Barcelona) - Dollar recovery attempt from 1.1350 low on Monday, was capped yesterday at 1.1480 high, and the pair extended downtrend to 1.1275, fresh 4-week low,to attempt recovery on Wednesday although the pair remains capped below 1.1335/40 area.

The pair is trading at the moment around a.1300, with next support levels at 1.1265/75 (18 May low/session low), and below here, 1.1244 (May 6 high) and 1.1190/00. On the upside, resistance levels lie at 1.1345 (session high), and above here 1.1395 and 1.1480 (Jun 15 high).

On a bigger picture, the pair continues its downtrend from 1.1730, targeting 1.1235/1.1188 area, says Slobodan Drvenica, technical analyst at Windsor Brokers Ltd: "Yesterday’s recovery attempt left a lower top at 1.1478, ahead of fresh weakness. Current downleg is breaking below falling channel off 1.1730 high, with further losses through 1.1266, seen towards 1.1235/1.1188. Potential recovery seeks a lower top under 1.1480."