Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Closes above June's high crossing at 1.5773 would confirm an upside breakout of this summer's trading range while opening the door for a possible test of the 62% retracement level of the April-June decline crossing at 1.5891.
If September renews the decline off July's high, the reaction low crossing at 1.5488 is the next downside target.
- First resistance is June's high crossing at 1.5773.
- Second resistance is the 62% retracement level of the April-June decline crossing at 1.5891.
- First support is the reaction low crossing at 1.5488.
- Second support is the reaction low crossing at 1.5456.
