Euro "EC" (Dec)
Coverage for Oct. 17
Sellers didn't gain any traction from their efforts Friday, and may have even formed a near-term bottom that would be signaled back above 1.2585. Monday's opening strength peaked short of triggering the signal and the balance of the session only ranged narrowly. Any early strength Tuesday would be credible for extending higher intraday, but buyers cannot afford to delay gaining traction.
Resistance: 1.2585 and 1.2675
Support: 1.2535 and 1.2500
British Pound "BP" (Dec)
Coverage for Oct. 17
Sellers did not appear to have gained any traction from Friday's effort, a close above Friday's 1.8655 high would signal a corrective bounce underway. Monday's open gapped up and extended higher through mid-morning, but peaked just short of triggering the signal. The balance of the session fell back to the open's levels, which held as support on a closing basis. Early strength Tuesday would have limited credibility unless the gap back to Friday's close near 1.8580 were filled first or overnight.
Resistance: 1.8625 and 1.8775
Support: 1.8500 and 1.8405
Swiss Franc "SF" (Dec)
Coverage for Oct. 17
Sellers did not gain any traction from their efforts, and may have even formed a near-term bottom that would be signaled back above .7925. The signal was attacked at Monday's open, but MACD and RSI diverged negatively on its mid-morning retest, and the balance of the afternoon slid to fill the gap back to Friday's close. Early strength Tuesday would be credible for extending higher intraday, but buyers cannot afford to delay gaining traction if another new low can be avoided.
Resistance: .7925 and .7980Support: .7875 and .7845
Japanese Yen "JY" (Dec)
Coverage for Oct. 17
Sellers didn't gain any traction from their efforts, and may have even formed a near-term bottom that would be signaled back above .8450. Monday's open gapped up to the signal, which held a late-morning pullback as support. The afternoon only ranged back to the morning's highs, but no higher, so a gap up is all but required at Tuesday's open to avoid first filled the gap at lower levels back to Friday's close.
Resistance: .8535 and .8565Support: .8430 and .8405
Australian Dollar "AD" (Dec)
Coverage for Oct. 17
Monday's open gapped up to probe Friday's spike high, where the balance of the session ranged narrowly. The open's gain never extended higher, but potential remains alive for now to continue the rally back to mid-September's prior highs. A close under Friday's ~.7470 lows would signal otherwise.
Resistance: .7555 and .7585
Support: .7470 and .7420
Canadian Dollar "CD" (Dec)
Coverage for Oct. 17
Monday's open eventually firmed enough to test the prior several sessions' highs as resistance, but fell into negative territory before noon. The new low didn't gain any traction, and the balance of the session firmed again until trading back to Friday's close. A bounce back to the .8860 area remains likely before the decline can resume, and Monday's failed effort at resuming the decline now open's the possibility that it won't resume at all.
Resistance: .8855 and .8915
Support: .8775 and .8745
