Stochastics and the RSI are diverging but are 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 1.2607 is the next upside target. Closes below the reaction low crossing at 1.2245 would confirm an end to the short covering rally off July's low.
First resistance is today's high crossing at 1.2543.
Second resistance is the 38% retracement level of this year's decline crossing at 1.2607.
First support is the reaction low crossing at 1.2245.
Second support is the reaction low crossing at 1.2140.
