The September Dollar was slightly higher due to light short covering overnight. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 82.22 are needed to confirm that a short-term low has been posted. If September extends the decline off July's high, the 62% retracement level of the April-July rally crossing at 81.02 is the next downside target. First resistance is the 10-day moving average crossing at 81.84. Second resistance is the 20-day moving average crossing at 82.20. First support is last Thursday's low crossing at 81.22. Second support is the 62% retracement level of the April-July rally crossing at 81.02.<\/p>\n
The September Euro was slightly lower overnight as it consolidates some of Tuesday's rally but remains poised to renew the rally off July's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 38% retracement level of this year's decline crossing at 126.07 is the next upside target. Closes below the 20-day moving average crossing at 124.03 would confirm that a short-term top has been posted. First resistance is last Thursday's high crossing at 125.93. Second resistance is the 38% retracement level of this year's decline crossing at 126.07. First support is the 20-day moving average crossing at 124.03. Second support is the reaction low crossing at 121.45.<\/p>\n
The September British Pound was slightly higher overnight as it consolidates above the 10-day moving average crossing at 1.5789. Stochastics and the RSI have turned bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 1.5714 would confirm that a short-term top has been posted. If September renews this month's rally, the 75% retracement level of the April-June decline crossing at 1.6024 is the next upside target. First resistance is the 62% retracement level of the April-June decline crossing at 1.5891. Second resistance is the 75% retracement level of the April-June decline crossing at 1.6024. First support is the 10-day moving average crossing at 1.5789. Second support is the 20-day moving average crossing at 1.5714.<\/p>\n
The September Swiss Franc was slightly lower due to light profit taking overnight as it consolidates some of Tuesday's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 50% retracement level of this year's decline crossing at .10627 is the next upside target. Closes below the 20-day moving average crossing at .10329 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of this year's decline crossing at .10487. Second resistance is the 50% retracement level of this year's decline crossing at .10627. First support is the 20-day moving average crossing at .10329. Second support is the reaction low crossing at .10201.<\/p>\n
The September Canadian Dollar was lower overnight as it consolidates some of Tuesday's rally. Stochastics and the RSI are diverging but turning neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off June's low, April's high crossing at 101.68 is the next upside target. Closes below the 20-day moving average crossing at 100.69 are needed to confirm that a short-term top has been posted and would open the door for additional weakness near-term. First resistance is Tuesday's high crossing at 101.56. Second resistance is April's high crossing at 101.68. First support is the 20-day moving average crossing at 100.69. Second support is the reaction low crossing at 100.10.<\/p>\n
The September Japanese Yen was lower overnight and remains poised to renew the rally off this month's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews the rally off this month's low, July's high crossing at .12854 is the next upside target. If September renews this month's decline, the reaction low crossing at .12514 is the next downside target. First resistance is last Wednesday's high crossing at .12778. Second resistance is July's high crossing at .12854. First support is the reaction low crossing at .12514. Second support is June's low crossing at .12416.<\/p>\n
To receive INO.com<\/a>\u2018s Daily Market Analysis & Commentary click here<\/strong><\/a><\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" The September Dollar was slightly higher due to light short covering overnight. Stochastics and the RSI are oversold and are turning neutral to bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing at 82.22 are needed to confirm that a short-term low has been posted. If […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[256,4429],"class_list":["post-15864","post","type-post","status-publish","format-standard","hentry","category-general","tag-currency-market","tag-morning-commentary"],"yoast_head":"\n