Analysis

The March Dollar posted a key reversal down on Friday after spiking above December's high crossing at 97.20. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, weekly resistance crossing at 97.83 is the next upside target. Closes below the 20-day moving average crossing at 96.02 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 97.23. Second resistance is weekly resistance crossing at 97.83. First support is the 10-day moving average crossing at 96.43. Second support is the 20-day moving average crossing at 96.02.

The March Euro closed slightly higher on Friday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the aforementioned decline, the 87% retracement level of the 2016-2018 rally crossing at 111.94 is the next downside target. Closes above the 50-day moving average crossing at 114.53 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 115.57. Second resistance is January's high crossing at 116.33. First support is today's low crossing at 112.61. Second support is the 87% retracement level of the 2016-2018 rally crossing at 111.94.

The March British Pound closed higher on Friday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the reaction low crossing at 1.2707 is the next downside target. Closes above the 20-day moving average crossing at 1.3018 would confirm that a short-term low has been posted. First resistance is January's high crossing at 1.3252. Second resistance is October's high crossing at 1.3356. First support is Thursday's low crossing at 1.2791. Second support is the reaction low crossing at 1.2707.

The March Swiss Franc closed slightly higher on Friday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this winter's decline, weekly support crossing at 0.9902 is the next downside target. Closes above the 20-day moving average crossing at 1.0049 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.0049. Second resistance is the 50-day moving average crossing at 1.0133. First support is Thursday's low crossing at 0.9930. Second support is weekly support crossing at 0.9902.

The March Canadian Dollar closed higher on Friday. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this month's decline, the reaction low crossing at 74.85 is the next downside target. Closes above Wednesday's high crossing at 75.84 are needed to confirm that a short-term low has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 76.49. Second resistance is the 75% retracement level of the October-December-decline crossing at 77.18. First support is the 50-day moving average crossing at 75.08. Second support is the reaction low crossing at 74.85.

The March Japanese Yen closed higher on Friday as it consolidates some of the decline off January's high. The mid-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off January's high, the 75% retracement level of the November-January-rally crossing at 0.0900 is the next downside target. Closes above the 20-day moving average crossing at 0.0914 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 0.0925. Second resistance is the reaction high crossing at 0.0933. First support is the 75% retracement level of the November-January-rally crossing at 0.0900. Second support is the 87% retracement level of the November-January-rally crossing at 0.0892.