Stochastics and the RSI are oversold but remain bearish signaling that sideways to lower prices are possible near-term. If March extends this year's decline, the 75% retracement level of 2012's rally crossing at 1.5598 is the next downside target. Closes above the 20-day moving average crossing at 1.5855 are needed to confirm that a short-term low has been posted.
First resistance is the 20-day moving average crossing at 1.5855.
Second resistance is last Friday's high crossing at 1.5874.
First support is Tuesday's low crossing at 1.5627.
Second support is the 75% retracement level of 2012's rally crossing at 1.5598.
