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CURRENCIES

The September Dollar closed sharply lower on Monday and below the 20-day moving average crossing at 96.95 confirming that a short-term top has been posted. 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 neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends today's decline, the reaction low crossing at 95.55 is the next downside target. If September renews the rally off June's low, the reaction high crossing at 99.16 is the next upside target. First resistance is last Monday's high crossing at 98.23. Second resistance is the reaction high crossing at 99.16. First support is the reaction low crossing at 95.55. Second support is the reaction low crossing at 94.85.

The September Euro closed sharply higher on Monday and above the 20-day moving average crossing at 110.18 confirming that a short-term low has been posted. 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 neutral to bullish hinting that a low might be in or is near. If September extends today's rally, the reaction high crossing at 112.26 is the next upside target. If September renews the decilne off June's high, the reaction crossing at 106.87 is the next downside target. First resistance is the reaction high crossing at 112.26. Second resistance is the reaction high crossing at 112.92. First support is last Monday's low crossing at 108.28. Second support is the reaction low crossing at 106.87.

The September British Pound closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends last week's decline, July's low crossing at 1.5323 is the next downside target. Closes above the reaction high crossing at 1.5669 are needed to confirm that a low has been posted. First resistance is the reaction high crossing at 1.5669. Second resistance is June's high crossing at 1.5924. First support is July's low crossing at 1.5323. Second support is the 50% retracement level of the April-June-rally crossing at 1.5257.

The September Swiss Franc closed lower on Monday. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off June's high, the 75% retracement level of the March-May-rally crossing at 1.0232 is the next downside target. Closes above the 20-day moving average crossing at 1.0544 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.0742. Second resistance is June's high crossing at 1.0964. First support is last Monday's low crossing at 1.0385. Second support is the 75% retracement level of the March-May-rally crossing at 1.0232 is the next downside target.

The September Canadian Dollar closed higher due to short covering on Monday. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off May's high, weekly support crossing at 73.92 is the next downside target. Closes above the 20-day moving average crossing at 78.06 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 77.02. Second resistance is the 20-day moving average crossing at 78.06. First support is last Friday's low crossing at 76.29. Second support is weekly support crossing at 73.92.

The September Japanese Yen closed higher on Monday. 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 turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at .8127 would confirm that a short-term low has been posted. If September renews the decline off July's high, June's low crossing at .7956 is the next downside target. First resistance is July's high crossing at .8312. Second resistance is the reaction high crossing at .8423. First support is last Monday's low crossing at .8037. Second support is June's low crossing at .7956.

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