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The March Euro closed slightly higher on Wednesday as it extends the trading range of the past four weeks. The mid-range close sets the stage for a steady opening when Thursday'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 renews this winter's decline, monthly support crossing at 107.59 is the next downside target. Closes above the reaction high crossing at 115.39 are needed to confirm that a short term low has been posted. First resistance is the reaction high crossing at 115.39. Second resistance is the reaction high crossing at 118.78. First support is January's low crossing at 111.02. Second support is weekly support crossing at 107.59.
The March British Pound closed higher on Wednesday as it extends the rally off January's low. The high range close sets the stage for a steady to higher opening when Thursday'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 38% retracement level of the June-January decline crossing at 1.5775 is the next upside target. Closes below the 20 day moving average crossing at 1.5288 would temper the near term friendly outlook. First resistance is today's high crossing at 1.5537. Second resistance is the 38% retracement level of the June-January decline crossing at 1.5775. First support is the 10 day moving average crossing at 1.5407. Second support is the 20 day moving average crossing at 1.5288.
The March Swiss Franc closed slightly higher on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday'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 decline off January's high, the 75% retracement level of January's rally crossing at 1.0399 is the next downside target. Closes above the 20 day moving average crossing at 1.0752 would confirm that a low has been posted. First resistance is the 10 day moving average crossing at 1.0636. Second resistance is the 20 day moving average crossing at 1.0752. First support is last Friday's low crossing at 1.0497. Second support is the 75% retracement level of January's rally crossing at 1.0399.
The March Canadian Dollar closed higher on Wednesday while extending this month's trading range. The high range close sets the stage for a steady to higher opening when Thursday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near term. If March renews this month's rally, the 25% retracement level of the 2013-2015 decline crossing at 82.65 is the next upside target. If March resumes this winter's decline, monthly support crossing at 76.53 is the next downside target. First resistance is last Tuesday's high crossing at 80.87. Second resistance is the 25% retracement level of the 2013-2015 decline crossing at 82.65. First support is January's low crossing at 78.08. Second support is monthly support crossing at 76.53.
The March Japanese Yen closed slightly higher on Wednesday as it extends a three month old trading range. The mid range close sets the stage for a steady opening when Thursday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher pirces are possible near term. Closes above the 20 day moving average crossing at .8438 would temper the near term bearish outlook. If March renews the decline off January's high, the reaction low crossing at .8282 is the next downside target. First resistance is the 20 day moving average crossing at .8442. Second resistance is December's high crossing at .8663. First support is the reaction low crossing at .8282. Second support is December's low crossing at .8219.
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