The September Dollar was lower overnight as it extends the decline below the 75% retracement level of the April-July rally crossing at 80.32. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off July's high, the 87% retracement level of the May-July rally crossing at 79.67 is the next downside target. Closes above the 20-day moving average crossing at 81.48 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 81.00. Second resistance is the 20-day moving average crossing at 81.48. First support is the 87% retracement level of the May-July rally crossing at 79.67. Second support is May's low crossing at 79.02.
The September Euro was lower overnight as it consolidates above the 50% retracement level of this year's decline crossing at 127.77. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 62% retracement level of this year's decline crossing at 129.48 is the next upside target. Closes below the 20-day moving average crossing at 125.31 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of this year's decline crossing at 129.48. Second resistance is the 75% retracement level of this year's decline crossing at 131.39. First support is the 10-day moving average crossing at 126.36. Second support is the 20-day moving average crossing at 125.31.
The September British Pound was higher overnight and challenging the 75% retracement level of the April-June decline crossing at 1.6024. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 87% retracement level of the April-June decline crossing at 1.6150 is the next upside target. Closes below the 20-day moving average crossing at 1.5834 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the April-June decline crossing at 1.6024. Second resistance is the 87% retracement level of the April-June decline crossing at 1.6150. First support is the 10-day moving average crossing at 1.5907. Second support is the 20-day moving average crossing at 1.5834.
The September Swiss Franc was higher overnight as it extends the rally off July's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 50% retracement level of this year's decline crossing at .10627 is the next upside target. Closes below the 20-day moving average crossing at .10422 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of this year's decline crossing at .10627. Second resistance is the 62% retracement level of this year's decline crossing at .10766. First support is the 10-day moving average crossing at .10496. Second support is the 20-day moving average crossing at .10422.
The September Canadian Dollar was higher overnight as it extends the rally off June's low. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off June's low, the 87% retracement level of the 2011-2012-decline crossing at 103.45 is the next upside target. Closes below the 20-day moving average crossing at 101.27 are needed to confirm that a short-term top has been posted and would open the door for additional weakness near-term. First resistance is the overnight high crossing at 102.84. Second resistance is the 87% retracement level of the 2011-2012-decline crossing at 103.45. First support is the 20-day moving average crossing at 101.27. Second support is the reaction low crossing at 100.64.
The September Japanese Yen was higher overnight renewing the rally off August's low. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. From a broad perspective, September needs to close above .12854 or below .12416 to confirm a breakout of this summer's trading range and point the direction of the next trending move. First resistance is the overnight high crossing at .12828. Second resistance is July's high crossing at .12854. First support is August's low crossing at .12556. Second support is June's low crossing at .12416.
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