Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If March extends this decline, the 38% retracement level of the July-December rally crossing at 1.2850 is the next downside target. Closes above the 10-day moving average crossing at 1.3168 are needed to confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 1.3142.
Second resistance is the 10-day moving average crossing at 1.3168.
First support is last Friday's low crossing at 1.3005.
Second support is the 38% retracement level of the July-December rally crossing at 1.2850.
