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The December Dollar was higher overnight as it extends the trading range of the past three-weeks. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below the reaction low crossing at 97.56 would confirm that a short-term top has been posted while opening the door for additional weakness near-term. If December resumes the rally off August's low, weekly resistance crossing at 99.90 is the next upside target. First resistance is the September 3rd high crossing at 98.90. Second resistance is weekly resistance crossing at 99.90. First support is the 50-day moving average crossing at 97.51. Second support is the August 26th low crossing at 96.96.
The December Euro was lower overnight while extending the trading range of the past three-weeks. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off June's high, monthly support crossing at 109.21 is the next downside target. If December renews the rally off last-Thursday's low, the 50-day moving average crossing at 112.09 is the next upside target. First resistance is the 50-day moving average crossing at 112.09. Second resistance is August's high crossing at 113.55. First support is the September 12th low crossing at 110.02. Second support is monthly support crossing at 109.21.
The December British Pound was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.2383 would confirm that a short-term top has been posted. If December extends the rally off September's low, the 50% retracement level of the February-September-decline crossing at 1.2776 is the next upside target. First resistance is the 38% retracement level of the February-September-decline crossing at 1.2595. Second resistance is the 50% retracement level of the February-September-decline crossing at 1.2776. First support is the 20-day moving average crossing at 1.2383. Second support is September's low crossing at 1.2008.
The December Swiss Franc was steady to slightly lower overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 1.0198 are needed to confirm that a short-term low has been posted. If December extends the decline off August's high, the 87% retracement level of the May-June rally crossing at 1.0059 is the next downside target. First resistance is the 20-day moving average crossing at 1.0198. Second resistance is the September 4th reaction high crossing at 1.0298. First support is the 75% retracement level of the May-June rally crossing at 1.0114. Second support is the 87% retracement level of the May-June rally crossing at 1.0059.
The December Canadian Dollar was lower overnight. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off September's high, September's low crossing at 74.84 is the next downside target. Closes above the 50-day moving average crossing at 75.76 are needed to temper the near-term bearish outlook. First resistance is September's high crossing at 76.23. Second resistance is the July 31st high crossing at 76.40. First support is last-Wednesday's low crossing at 75.22. Second support is September's low crossing at 74.84.
The December Japanese Yen was higher overnight as it consolidates some of the decline off August's high. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 0.0939 are needed to confirm that a short-term low has been posted. If December extends the decline off August's high, August's low crossing at 0.0924 is the next downside target. First resistance is the 20-day moving average crossing at 0.0939. Second resistance is the 50-day moving average crossing at 0.0941. First support is last-Thursday's low crossing at 0.0927. Second support is August's low crossing at 0.0924.