$EURUSD

$EURUSD  closed lower on Wednesday and is poised to renew the decline off last week's high. The low-range close sets the stage for a steady to lower opening on Thursday. 

Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 1.2140 would confirm an end to the short covering rally off July's low. 

If September renews the rally off July's low, the reaction high crossing at 1.2703 is the next upside target. 

• First resistance islast Monday's high crossing at 1.2450. 
  
• Second resistance is the reaction high crossing at 1.2703. 
  
  
• First support is the reaction low crossing at 1.2140. 
  
• Second support is July's low crossing at 1.2051.