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CURRENCIES

The September Dollar was higher overnight. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the reaction low crossing at 92.83 would temper the near-term friendly outlook. If September renews the rally off August's low, the 50-day moving average crossing at 94.76 is the next upside target. First resistance is the 50-day moving average crossing at 94.76. Second resistance is July's high crossing at 96.26. First support is the reaction low crossing at 92.83. Second support is August's low crossing at 92.39. Third support is weekly support crossing at 91.88.

The September Euro was lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September resumes the rally off April's low, weekly resistance crossing at 120.07 is the next upside target. If September extends this month's decline, the reaction low crossing at 116.45 is the next downside target. First resistance is August's high crossing at 119.39. Second resistance is weekly resistance crossing at 120.07. First support is the reaction low crossing at 116.45. Second support is the 50-day moving average crossing at 115.70.

The September British Pound was lower overnight and is breaking out to the downside of the trading range of the past four-days as it renews this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, June's low crossing at 1.2625 is the next downside target. Closes above the 20-day moving average crossing at 1.3035 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1.3035. Second resistance is August's high crossing at 1.3287. First support is July's low crossing at 1.2839. Second support is June's low crossing at 1.2625.

The September Swiss Franc was lower overnight as it extends the trading range of the past three-weeks. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September resumes the decline off July's high, the 62% retracement level of the December-July-rally crossing at 1.0173 is the next downside target. Closes above the reaction high crossing at 1.0461 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 1.0461. Second resistance is July's high crossing at 1.0633. First support is the 50% retracement level of the December-July-rally crossing at 1.0261. Second support is the 62% retracement level of the December-July-rally crossing at 1.0173.

The September Canadian Dollar was slightly lower overnight. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last Tuesday's low, July's high crossing at 80.62 is the next upside target. If September resumes the decline off July's high, the 38% retracement level of the May-July-rally crossing at 77.60 is the next downside target. First resistance is the reaction high crossing at 79.67. Second resistance is July's high crossing at 80.62. First support is last Tuesday's low crossing at 78.29. Second support is the 38% retracement level of the May-July-rally crossing at 77.60.

The September Japanese Yen was lower overnight as it consolidates some of the rally off July's low. Stochastics and the RSI are diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 50-day moving average crossing at 0.9009 confirm that a short-term top has been posted. If September extends the aforementioned rally, the 87% retracement level of the April-July-decline crossing at 0.9233 is the next upside target. First resistance is last Friday's high crossing at 0.9219. Second resistance is the 87% retracement level of the April-July-decline crossing at 0.9233. First support is the 50-day moving average crossing at 0.9009. Second support is the reaction low crossing at 0.8933.

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