Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. Multiple 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. Closes below the 20-day moving average crossing at 1.5658 would signal that a short-term top has been posted.
First resistance is today's high crossing at 1.5804.
Second resistance is the 62% retracement level of the April-June decline crossing at 1.5891.
First support is the 20-day moving average crossing at 1.5658.
Second support is the reaction low crossing at 1.5488.
