FXstreet.com (Barcelona) - The Dollar dropped last week, retracing the whole recovery triggered by BoJ intervention, in Aug 4, to retest 76.30 low, before consolidating below 77.00, building pressure towards 74.00 and 73.00, says Mohammed Isah, analyst at FXTechstrategy.

The Dollar has reversed the whole Aug 3-4 rebound, and is building downside pressure towards 74.00 and 73.00: " Having reversed its entire corrective gains and closed lower for the week, pressure is now building to the downside towards the 74.00 and 73.00 levels, all representing its psycho levels."

On the upside the pair should break and hold above 80.19 to ease bearish pressure, says Isah: " On the upside, the pair must break and close above the 80.19 level traded on Aug 04?2011 to end its present bearishness and create scope for more gains towards the 81.47 level, its July 08?2011 high and then the 82.21 level."