$EURUSD Evening Commentary

$EURUSD closed slightly lower on Monday as it consolidates some of the rally off November's low. The low-range close sets the stage for a steady to lower opening on Tuesday. 

Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. Closes above September's high crossing at 1.3188 would confirm an upside breakout of a three and a half month trading range. Closes below the 20-day moving average crossing at 1.3002 would confirm that a short-term top has been posted. 

First resistance is September's high crossing at 1.3188. 

Second resistance is weekly resistance crossing at 1.3287. 

First support is the 10-day moving average crossing at 1.3061. 

Second support is the 20-day moving average crossing at 1.3002.