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 that a short-term top has been posted.
If September renews the rally off July's low, the 38% retracement level of this year's decline crossing at 126.07 is the next upside target.
First resistance is last Monday's high crossing at 1.2450.
Second resistance is the 38% retracement level of this year's decline crossing at 1.2607.
First support is the reaction low crossing at 1.2140.
Second support is July's low crossing at 1.2051.
