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CURRENCIES

The December Dollar closed lower on Monday as it extends last week's decline below the 20-day moving average crossing at 95.47. 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 a sideways to lower prices are possible near-term. If September extends the decline off last Wednesday's high, September's low crossing at 94.38 is the next downside target. If December renews the rally off September's low, August's high crossing at 96.45 is the next upside target. First resistance is last Wednesday's high crossing at 96.30. Second resistance is August's high crossing at 96.45. First support is the 62% retracement level of the May-July-rally crossing at 94.20. Second support is the 75% retracement level of the May-July-rally crossing at 93.47.

The December Euro 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 neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 113.41 are needed to confirm that a short-term low has been posted. If December resumes the decline off August's high, August's low crossing at 111.09 is the next downside target. First resistance is September's high crossing at 113.73. Second resistance is August's high crossing at 114.21. First support is last Wednesday's low crossing at 111.64. Second support is August's low crossing at 111.09.

The December British Pound closed slightly 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this month's decline, August's low crossing at 1.2897 is the next downside target. Closes above the 20-day moving average crossing at 1.3185 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3185. Second resistance is September's high crossing at 1.3471. First support is last Friday's low crossing at 1.2932. Second support is August's low crossing at 1.2897.

The December Swiss Franc closed higher on Monday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 1.0371 are needed to confirm that a short-term low has been posted. If December renews the decline off September's high, September's low crossing at 1.0187 is the next downside target. First resistance is September's high crossing at 1.0418. Second resistance is August's high crossing at 1.0556. First support is the reaction low crossing at 1.0235. Second support is September's low crossing at 1.0187.

The December Canadian Dollar closed lower on Monday and 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off August's high, the reaction low crossing at 75.32 is the next downside target. Closes above last Thursday's high crossing at 76.96 would confirm that a short-term low has been posted. First resistance is last Thursday's high crossing at 76.96. Second resistance is September's high crossing at 78.03. First support is July's low crossing at 75.50. Second support is the reaction low crossing at 75.32.

The December 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If December extends this month's rally, August's high crossing at 1.0095 is the next upside target. Closes below last Wednesday's low crossing at 0.9764 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 1.00275. Second resistance is August's high crossing at 1.0095. First support last Wednesday's low crossing at 0.97645. Second support is the 62% retracement level of the July-August's rally crossing at 0.9641.

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