EURUSD closed lower on Thursday and below the 20-day moving average crossing at 1.3139 confirming that a short-term top has been posted while opening the door for a larger-degree decline during the first half of January. The low-range close sets the stage for a steady to lower opening on Friday.
Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, December's low crossing at 1.2892 is the next downside target. Closes above Wednesday's high crossing at 1.3289 are needed to confirm that a short-term top has been posted.
First resistance is Wednesday's high crossing at 1.3289.
Second resistance is December's high crossing at 1.3321.
First support is today's low crossing at 1.3061.
Second support is December's low crossing at 1.2892.
