Currencies Report

The March Dollar closed higher due to short covering on Monday as it consolidated some of this month's decline. 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 March extends the aforementioned decline, the 75% retracement level of the September-November-rally crossing at 91.69 is the next downside target. Closes above the 20-day moving average crossing at 93.70 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 93.70. Second resistance is November's high crossing at 95.07. First support is the 62% retracement level of the September-November-rally crossing at 92.23. Second support is the 75% retracement level of the September-November-rally crossing at 91.69.

The March Euro closed lower due to profit taking on Monday as it consolidated some of the rally off November's low. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this month's rally, the reaction high crossing at 121.49 is the next upside target. Closes below the 20-day moving average crossing at 118.02 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 121.49. Second resistance is September high crossing at 122.11. First support is the 10-day moving average crossing at 118.81. Second support is the 20-day moving average crossing at 118.02.


The March British Pound closed slightly 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 overbought but remain neutral to bullish signaling that sideways to higher possible near-term. If March extends this month's rally, the reaction high crossing at 1.3525 is the next upside target. Closes below the 20-day moving average crossing at 1.3252 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.3525. Second resistance is September's high crossing at 1.3695. First support is the 20-day moving average crossing at 1.3252. Second support is November's low crossing at 1.3098.

The March Swiss Franc closed lower on Monday as it consolidates some of this month's rally. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the reaction high crossing at 1.0396 is the next upside target. Closes below the 20-day moving average crossing at 1.0161 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 1.0396. Second resistance is October's high crossing at 1.0415. First support is the 20-day moving average crossing at 1.0161. Second support is November's low crossing at 0.9991.

The March Canadian Dollar 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 78.13 would confirm that a short-term top has been posted. If March resumes the rally off October's low, the 50-day moving average crossing at 79.41 is the next upside target. First resistance is the 50-day moving average crossing at 79.41. Second resistance is October's high crossing at 80.42. First support is October's low crossing at 77.55. Second support is the July's low crossing at 77.16.


The March Japanese Yen closed higher on Monday as it extended the rally off November's low. 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 March extends this month's rally, the 62% retracement level of the September-November-decline crossing at 0.9141 is the next downside target. Closes below the 20-day moving average crossing at 0.8904 would confirm that a short-term top has been posted. First resistance is the 50% retracement level of the September-November-decline crossing at 0.9072. Second resistance is the 62% retracement level of the September-November-decline crossing at 0.9141. First support is the 10-day moving average crossing at 0.8955. Second support is the 20-day moving average crossing at 0.8904.

The March Dollar closed slightly higher on Tuesday but remains below the 20-day moving average crossing at 102.49. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes this month's decline, the 50-day moving average crossing at 100.93 is the next downside target. 

Closes above the 10-day moving average crossing at 102.48 would temper the near-term bearish outlook. First resistance is weekly resistance crossing at 103.67. Second resistance is weekly resistance crossing at 107.38. First support is the 50-day moving average crossing at 100.93. Second support is December's low crossing at 99.25.

The March Euro closed lower on Tuesday but remains above the 20-day moving average crossing at 105.30. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. 

If March extends the rally off last week's low, the 50-day moving average crossing at 107.14 is the next upside target. If March renews the decline off November's high, weekly support crossing at 102.59 is the next downside target. First resistance is the 50-day moving average crossing at 107.14. Second resistance is December's high crossing at 109.23. First support is last Tuesday's low crossing at 103.73. Second support is weekly support crossing at 102.59.


The March British Pound closed slightly higher on Tuesday after falling short of testing support marked October's low crossing at 1.2119. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold, diverging but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, October's low crossing at 1.2119 is the next downside target. 

Closes above the 50-day moving average crossing at 1.2456 are needed to confirm that a low has been posted. First resistance is the 50-day moving average crossing at 1.2456. Second resistance is the 25% retracement level of the June-August-decline crossing at 1.2777. First support is today's low crossing at 1.2123. Second support is October's low crossing at 1.2119.

The March Swiss Franc closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March renews the decline off November's high, weekly support crossing at 0.9686 is the next downside target. 

Closes above the 50-day moving average crossing at 0.9979 would open the door for a larger-degree rally during January. First resistance is the 50-day moving average crossing at 0.9979. Second resistance is the reaction high crossing at 1.0214. First support is last Tuesday's low crossing at 0.9713. Second support is weekly support crossing at 0.9686.

The March Canadian Dollar closed slightly higher on Tuesday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. If March extends the rally off December's low, December's high crossing at 76.55 is the next upside target. 

Closes below the 50-day moving average crossing at 74.82 would confirm that a short-term top has been posted. First resistance is last Friday's high crossing at 75.94. Second resistance is December's high crossing at 76.55. First support is the 50-day moving average crossing at 74.82. Second support is December's low crossing at 0.7360.

The March Japanese Yen closed higher on Tuesday. The mid-range close sets the stage for a steady opening when the Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off January's low, the reaction high crossing at 0.8891 is the next upside target. 

If March renews the decline off August's high, the 87% retracement level of the 2015-2016-rally crossing at 0.8404 is the next downside target. First resistance is last Friday's high crossing at 0.8712. Second resistance is the reaction high crossing at 0.8891. First support is January's low crossing at 0.8454. Second support is the 87% retracement level of the 2015-2016-rally crossing at 0.8404.