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CURRENCIES

The December Dollar was lower overnight. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 93.28 would open the door for a possible test of October's low crossing at 92.59. Closes above the 20-day moving average crossing at 94.24 would temper the near-term bearish outlook. First resistance is the 38% retracement level of the January-September-decline crossing at 95.57. Second resistance is July's high crossing at 96.07. First support is the 50-day moving average crossing at 93.28. Second support is October's low crossing at 92.59.

The December Euro was higher overnight and is poised to extend the rally off November's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends the aforementioned rally, October's high crossing at 119.21 is the next upside target. Closes below the 20-day moving average crossing at 117.11 would confirm that a short-term top has been posted. First resistance is October's high crossing at 119.21. Second resistance is September's high crossing at 121.55. First support is the 38% retracement level of the January-September-rally crossing at 115.51. Second support is July's low crossing at 114.13.

The December British Pound was higher overnight while extending the trading range of the past two-months. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes below trading range support crossing at 1.3061 would open the door for a possible test of the 75% retracement level of the July-September-rally crossing at 1.2924 as the next downside target. Closes above the reaction high crossing at 1.3363 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.3338. Second resistance is the reaction high crossing at 1.3363. First support is the 62% retracement level of the June-September-rally crossing at 1.3061. Second support is the 75% retracement level of the June-September-rally crossing at 1.2924.

The December Swiss Franc were slightly higher overnight. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 10-day moving average crossing at 1.0074 would confirm that a short-term top has been posted. If December extends the rally off November's low, the 50-day moving average crossing at 1.0238 is the next upside target. First resistance is the 50-day moving average crossing at 1.0238. Second resistance is the reaction high crossing at 1.0346. First support is November's low crossing at 0.9991. Second support is last December's low crossing at 0.9953.

The December Canadian Dollar was steady to slightly higher overnight. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If December extends the rally off October's low, the 50-day moving average crossing at 79.75 is the next upside target. Closes below the reaction low crossing at 78.02 would confirm that a short-term top has been posted. First resistance is the 50-day moving average crossing at 79.75. Second resistance is October's high crossing at 80.46. First support is the reaction low crossing at 78.02. Second support is October's low crossing at 77.45.

The December Japanese Yen was higher overnight as it extends the rally off November's low. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 0.8900 would open the door for a possible test of October's high crossing at 0.8980. Closes below the 20-day moving average crossing at 0.8818 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 0.8900. Second resistance is October's high crossing at 0.8980. First support is November's low crossing at 0.8730. Second support is the 87% retracement level of the January-September-rally crossing at 0.8695.

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