Analysis

The September Dollar was higher in late-overnight trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off June's low, the June 18th reaction high crossing at 97.27 is the next upside target. Closes below the 20-day moving average crossing at 96.32 would confirm that a short-term top has been posted. First resistance is the June 18th reaction high crossing at 97.27. Second resistance is May's high crossing at 97.72. First support is the 20-day moving average crossing at 96.32. Second support is the reaction low crossing at 96.12.

The September Euro was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off June's high, May's low crossing at 112.12 is the next downside target. Closes above the 20-day moving average crossing at 113.54 would temper the near-term bearish outlook. First resistance is June's high crossing at 114.86. Second resistance is March's high crossing at 116.21. First support is the last-Tuesday's low crossing at 112.62. Second support is May's low crossing at 112.12.

The September British Pound was lower in late-overnight trading as it resumes this year's decline. The low-range late-overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are turning neutral to bearish again signaling that sideways to lower prices are possible near-term. If September renews the decline off June's high, the October-2016 low crossing at 1.2439 is the next downside target. Multiple closes above the 20-day moving average crossing at 1.2644 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.2644. Second resistance is the 50-day moving average crossing at 1.2754 is the next upside target. First support is the overnight low crossing at 1.2480. Second support is the October-2016 low crossing at 1.2439.

The September Swiss Franc was lower overnight as it consolidates some of the rally off last-Tuesday's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Multiple closes above the 20-day moving average crossing at 1.0220 are needed to confirm that a short-term low has been posted. If September resumes the decline off June's high, the 50-day moving average crossing at 1.0127 is the next downside target. First resistance is June's high crossing at 1.0392. Second resistance is January's high crossing at 1.0505. First support is the 50-day moving average crossing at 1.0127. Second support is June's low crossing at 1.0066.

The September Canadian Dollar was slightly lower overnight as it consolidates below the 38% retracement level of the 2017-2018 decline crossing at 76.92. 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 50% retracement level of the 2017-2018 decline crossing at 77.95 is the next upside target. Closes below the 20-day moving average crossing at 76.27 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the 2017-2018 decline crossing at 76.92. Second resistance is the 50% retracement level of the 2017-2018 decline crossing at 77.95. First support is the 20-day moving average crossing at 76.27. Second support is the 50-day moving average crossing at 75.32.

The September Japanese Yen was steady to slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 0.0931 would temper the near-term bearish outlook. If September resumes the decline off June's high, the May 30th reaction low crossing at 0.0917 is the next downside target. First resistance is the reaction high crossing at 0.0935. Second resistance is the 87% retracement level of the January-April-decline crossing at 0.0942. First support is the May 30th low crossing at 0.0917. Second support is the May 21st reaction low crossing at 0.0912.